Jane Ancho, president of Cantor Fitzgerald appears on CNBC’s Squawk in the street at the 2020 World Economic Forum in Davos, Switzerland on January 22. 2020.
Jerry Miller | CNBC
His family announced in a statement on Saturday that Anshu Jain, the Indian-born investment banker who rose to the position of co-CEO of Deutsche Bank, passed away last night after a long battle with cancer. He was 59 years old.
Jain, who was most recently president of Cantor Fitzgerald, earned an MBA from the University of Massachusetts-Amherst and worked for several financial firms, including Merrill Lynch, before moving to Deutsche Bank. He served as Co-CEO from 2012 to 2015.
Jain resigned from his position at Deutsche before his contract expired after the bank struggled with a series of regulatory issues.
His other positions included a role as an advisor at fintech firm SoFi from 2016 to 2017 and as a trustee for the British charity Chance to Shine.
“He believed in hard work, merit, working outside of traditional expectations or boundaries, putting family first, standing up for one’s roots (having rejected many attempts to alienate oneself in an industry that was often homogeneous), speaking ‘on the sidelines’ rather than From presenting obvious facts, in intelligence and wordplay, in being immaterial, in the importance of having broad bandwidth and being a “mathematical researcher,” his family said in a statement.
“We are grateful to the many people who cared for Ancho throughout his life. To us, his legacy is perseverance, honor and love,” the statement said.