Born in India, the banker was the first non -German -speaking to have managed the first German private bank. He died at the age of 59.
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He was one of these figures that are both fascinating and scandalous of the Roaring Twenties of World Finance, those which preceded and followed the financial crisis of 2008-2009. Anshu Jain, born in the Indian middle class, in Jaipur, Rajasthan, in 1963, the first boss of non -Germanic origin to have risen to the head of Deutsche Bank (DB) after a career at Merrill Lynch, died in London on Saturday August 13, after a long fight against stomach cancer. He was 59 years old.
In a press release published on August 13, the bank honored the heritage of its former boss, which led the DB investment bank department, before sitting within the Management Board, from 2009 , then at the group co -director of the group, between 2012 and 2015. “He played for two decades a significant role in the development of Deutsche Bank and he contributed in a decisive manner to the growth of the trading activity on the markets of capital “, specifies the text. Christian Sewing, the current CEO of the German bank, praised “a passionate leader, with great intellectual shine. He impressed many of us by his energy and his loyalty”.
Surprisingly laudatory tribute to a boss that Deutsche Bank nevertheless returned unresolved in 2015, when damage to his reputation was such that the existence of the bank itself seemed seriously compromised. Strugged in scandals, DB is only the shadow of its prestigious past. This is the paradox of Anshu Jain: the one who was considered one of the best bankers of his generation exercised on the world of finance in general and on the executives of the bank in particular a strong fascination … until they train them in his Fall.
incredible risks
For two decades, its ambition was to carry the Deutsche Bank – a historically central bank in German capitalism, but with long provincial ambitions – at the top of world finance. To achieve this, he took incredible risks, including after the breakup of the 2008-2009 crisis, understanding too late that the banking regulation environment had definitively changed.
The whole story of the character participates in this exceptional aura. His childhood and his studies of economics in India, his installation in the United States to obtain an MBA in economics at the University of Massachusetts, and his visit to the Merrill Lynch, from 1988 to 1995. It was There he meets his existence: the banker Edson Mitchell, figure of Wall Street, whose aggressive methods and the flamboyant style inspired several films on the excesses of American finance.
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