Anshuman Jain is a British Indian business executive. Since 2017 he has been the president of the American financial services firm Cantor Fitzgerald. He previously served as the co-CEO of Deutsche Bank from 2012 until July 2015. Jain was a member of Deutsche Bank’s Management Board. He was previously head of the Corporate and Investment Bank, globally responsible for Deutsche Bank’s corporate finance, sales and trading, and transaction banking business. Jain remained a consultant to the bank until January 2016.
After having finished university, he started as an analyst in derivatives research at Kidder, Peabody & Co. where he worked from 1985 to 1988. After three years, he joined Merrill Lynch in New York City, where he founded and led the securities industry's first dedicated hedge fund coverage group. In 1995, Jain joined Deutsche Bank's nascent markets business to set up and run a specialist unit focusing on hedge funds and institutional derivative coverage. He joined the Deutsche Bank Group Executive Committee in 2002 became joint head of the Corporate and Investment Bank in 2004. Other roles included head of fixed income sales and trading, global head of derivatives and emerging markets as well as the global head of institutional client coverage. In July 2011 Jain was appointed co-CEO of Deutsche Bank, along with Jürgen Fitschen, effective 2012. In March 2013, Deutsche Bank restated its 2012 earnings report due to litigation costs, and Jain and his co-CEO Jürgen Fitschen's compensation for 2012 was cut to €4.8 million each. Jain presided over an aggressive expansion of Deutsche Bank's U.S. wealth-management business. The trigger for Jain’s forced departure was the record $2.5bn fine that Deutsche Bank was forced to pay regulators for the rigging of Libor and its later obstruction into the investigations into the Bank’s global manipulation of the benchmark rate. Deutsche Bank pled guilty plea to the US Department of Justice and entered into a deferred prosecution agreement. Jain headed its investment bank while the Libor was rigged, but the bank has denied that he was involved in any wrongdoing. Jain and his co-CEO Fitschen resigned in June 2015, following a series of Deutsche Bank's financial missteps and regulatory penalties, coupled with dissatisfaction by shareholders and employees in the bank’s performance and the management team's turnaround plans. In 2017 he joined the American financial services firm Cantor Fitzgerald as its president, and works from London.
Awards
Anshu received Risk MagazineLifetime Achievement Award in 2010, as well as the annual Business Leader Award from NASSCOM. He is a 2005 recipient of the American Indian Foundation's Achievement Award for philanthropy and ongoing involvement in development. He won Euromoney magazine's Capital Markets Achievement Award in 2003.
