New Delhi: Anshu Jain, Cantor Fitzgerald’s president who was known for his time leading Deutsche Bank traders into the lender’s investment banking heights, died five years after being diagnosed with duodenal cancer. He was 59.
“We are deeply saddened that our beloved husband, son, and father, Anshu Jain, passed away overnight,” his family said in a statement. He had been president of Cantor Fitzgerald since 2017, and before that was co-chief executive of Deutsche Bank AG.
Jain outlived his initial diagnosis, made in January 2017, by four years “through a combination of exhaustive personal research, tactical skill, amazing caregivers, and sheer force of will,” Jain’s family wrote.
“There are few reliable statistics for life expectancy for stomach cancer in the third, fourth, and fifth years, because so few people survive these milestones,” they wrote. “To his last day, Anshu stood by his lifelong determination to ‘not be a statistic.’”
Born in Jaipur, India, the son of a civil servant, Jain rose to Wall Street’s highest ranks and transformed one of Europe’s most prominent lending institutions into a global trading powerhouse. He nurtured generations of traders as he rose through the ranks of Deutsche Bank. Many of the risk-takers and bankers he led have gone on to work for Wall Street’s largest banks and technology firms.
Jain most recently recruited teams of traders from larger rivals to work at Cantor Fitzgerald as that firm’s chief, Howard Lutnick, expanded ambitions in trading and relationships with global investors.
After graduating from business school at University of Massachusetts at Amherst — where Jain first learned the inner workings of derivatives — he held positions at Kidder Peabody & Co. and Merrill Lynch before following his mentor, the late Edson Mitchell, to Deutsche Bank in 1995.
