Anshu Jain

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Anshu Jain
Anshu Jain World Economic Forum 2013.jpg
Jain at the World Economic Forum Annual Meeting in 2013
Born (1963-01-07) January 7, 1963 (age 51)
Jaipur, Rajasthan, India
Nationality Indian British
Ethnicity Marwari
Alma mater University of Delhi (B.A.)
University of Massachusetts (M.B.A.)
Occupation Co-CEO of Deutsche Bank
Employer Deutsche Bank
Religion Hinduism

Anshuman Jain (born January 7, 1963 in Jaipur, Rajasthan, India) is an Indian business executive. He took over as Co-CEO of Deutsche Bank on June 1, 2012 to succeed Management Board Chairman Josef Ackermann.[1]

Jain is a member of Deutsche Bank’s Management Board and, as head of the Corporate and Investment Bank since July 2010, was globally responsible for Deutsche Bank’s corporate finance, sales and trading, and transaction banking business. As of July 25, 2011, Jürgen Fitschen and Anshu Jain, both members of the Management Board of the Bank, will be nominated as Co-Chairmen of the Board and the Group Executive Committee of the Bank effective at the conclusion of the Annual General Meeting 2012.[2]

Early life and career[edit]

Jain studied economics at University of Delhi's Shri Ram College of Commerce, earning a bachelor's degree with honors in 1983.[3] He also holds an MBA in Finance from the University of Massachusetts Amherst.[4]

After having finished university, he started as an analyst in derivatives research at Kidder, Peabody & Co. (now part of UBS) where he worked from 1985 to 1988. After three years, he joined Merrill Lynch in New York 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.

Since 2002, he has been in the Deutsche Bank Group Executive Committee (GEC) and was formerly head of Global Markets and joint head of the Corporate and Investment Bank from 2004. His previous 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 April 2010, Deutsche Bank reported first quarter net revenues of €9 billion of which the Corporate and Investment Bank contributed net revenues of €6.6 billion, up from €4.9 billion in the first quarter 2009.

Jain has been the subject of considerable speculation in the media that he could succeed Josef Ackermann as Chief Executive of Deutsche Bank. He earned almost €12 million in 2010 and is, therefore, the best earner at Deutsche Bank. In comparison, CEO Josef Ackermann earned €8.8 million in 2010.

In addition to his Deutsche Bank commitments, Jain is a non-executive director of Sasol, South Africa’s leading oil and gas company. He served as a member of the Indian Prime Minister’s Working Group on Inward Investment in India and more recently helped to lead Deutsche Bank’s team advising the UK Treasury on financial stability, with a broad mandate across all elements of the bank rescue package and other financial issues. Jain was also a member of the Financial Services Global Competitiveness Group, tasked by the Chancellor of the Exchequer in July 2008 with a year-long assessment of the UK’s long-term approach to international financial services.

Anshu received Risk Magazine Lifetime 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 Capital Markets Achievement Award in 2003.[5]

As of July 25, 2011, he was appointed as CO-CEO of Deutsche Bank.[6]

In March 2013, it was reported that Jain requested a pay cut of almost €2 million ($2.60 million).[7][8]

Personal life[edit]

In November 2012 he purchased a two bedroom apartment in New York for $7.2 million.[9]

References[edit]

External links[edit]