Anshu Jain died Saturday after a five-year battle with duodenal cancer, according to his family.
Digital Desk: Anshu Jain, the former co-chief executive officer of Deutsche Bank AG, died early Saturday at the age of 59 after a long, serious illness, according to the bank.
"Anshu Jain was instrumental in expanding Deutsche Bank's global business with companies and institutional investors," said Alexander Wynaendts, chairman of the bank's supervisory board.
"Today, this is strategic not only for Deutsche Bank but for Europe as a financial center," he added.
According to the bank, Jain was instrumental in the development of the company's global capital markets business.
The Indian-born banker joined Deutsche's management board in 2009 and took over as head of the corporate and investment bank division in 2010. He served as co-CEO from 2012 to 2015.
"Anyone who worked with Anshu encountered a passionate leader of intellectual brilliance," said Christian Sewing, the current CEO.
Jain had been suffering from cancer for five years, according to Bloomberg News.
According to the report, his family said in a statement, "We are deeply saddened that our beloved husband, son, and father, Anshu Jain, passed away overnight."
Jain outlived his initial diagnosis in January 2017 by four years, according to his family.
He joined Deutsche Bank in 1995 to launch a hedge fund and derivatives division.
He resigned from Deutsche Bank in 2015 and has been the president of Cantor Fitzgerald since 2017.
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