Deutsche Bank's Anshu Jain dies

ANSHU JAIN, Deutsche Bank's India-born former Co-CEO, who played a crucial role in the development of the German bank, has died after a nearly five-year battle with cancer.

The bank said in a statement that he ‘passed away in the early hours of Saturday at the age of 59 after a long, serious illness.'

In 2017, Jain was diagnosed with duodenal cancer - a mass of irregular, fast-growing cells in the first portion of the small intestine.

He died in London, where he had been living for the past few years. He is survived by his wife Geetika Jain and two children.

‘We are deeply saddened that our beloved husband, son, and father, Anshu Jain, passed away overnight,‘ his family said in a statement.

They said Jain outlived his initial diagnosis by four years ‘through a combination of exhaustive personal research, tactical skill, amazing caregivers and sheer force of will.'

‘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. To his last day, Anshu stood by his lifelong determination to ‘not be a statistic,' the family said.

Born in Jaipur, Jain received his bachelor's degree in economics from the University of Delhi and his MBA in finance from the University of Massachusetts Amherst.

Jain started his career at Wall Street, working at financial major Merrill Lynch. Deutsche said Jain played a crucial role in the development of the bank and was instrumental in building the company's global capital markets business.

He was appointed to Deutsche Bank's management board in 2009.