Anshu Jain, a former CEO of Deutsche Bank, passes away at 59.

Anshu Jain, a British-Indian investment banker and the head of Cantor Fitzgerald, passed away on Saturday after a five-year battle with duodenal cancer.

The two children and wife of Jain, 59, are still alive. The former CEO of Deutsche Bank has been residing in London for some time.

The Jain family released a statement saying, "We are profoundly heartbroken that our beloved husband, son, and father, Anshu Jain, passed away overnight." 

"Because so few patients reach these anniversaries, there are few credible figures on life expectancy for stomach cancer in the third, fourth, and fifth years. Anshu maintained his lifetime resolve to "not be a statistic" till the very end.

Jain is most recognised for his extended work at Deutsche Bank as co-CEO with Jürgen Fitsche between 2012 and 2015, but he has also counselled governments and business organisations across the world, most notably by sitting on the Monetary Authority of Singapore's International Advisory Panel.

Jain handled the administration of the bank's equity strategy as the first non-European co-CEO after the business suffered losses in 2008 due to the financial crisis. Along with moving up the ranks, he mentored a number of traders and bankers who went on to work in some of the biggest banks and companies in the world.

Jain left the bank in June 2015 nevertheless, following criticism over layoffs and closures as well as a decline in shareholder trust. Jain boosted the operation of the company after joining Cantor Fitzgerald as its CEO in 2017 by hiring teams of traders from bigger competitors.

Anshu has always distinguished out due to his intelligence and charisma, according to billionaire investor and co-founder of Avenue Capital Management Marc Lasry. It's unusual for someone in his position to appreciate his company and ideas, but you did.

The esteemed Capital Markets Achievement Award was presented to the top investment banker in 2003 by Euromoney magazine. In 2010, Risk magazine presented the Lifetime Achievement Award.

Jain was not just a financial and banking professional, but he also had a deep love of the natural world. Tiger Watch, a wildlife preservation organisation with which Jain was intimately associated, released a statement lamenting the loss of "a beloved friend."