Anshu Jain, Deutsche Bank chief in trading heyday, dies at 59

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. “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. “You enjoyed his company and thoughts, which is rare of someone in his position.” 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. Over time, he made the bank a fixture on Wall Street as his team snapped up work with hedge funds, competing with financial giants including Goldman Sachs Group Inc. and Citigroup Inc. As he spearheaded expansions into credit derivatives and emerging markets, Jain was named head of the investment bank in 2010, where he took on responsibilities for corporate finance and transaction banking units.