India's Anshu Jain, The New CEO of Deutsche Bank

After Vikram Pandit, who became the chief executive officer (CEO) of Citigroup in 2007 and presided over some of the worst months of the banking behemoth, another executive of Indian descent is all set to head the prestigious Deutsche Bank.

Anshu Jain, 47- year- old Jaipur- born financier and cricket buff who till recently owned 10 per cent of the Mumbai Indians IPL team, is being tipped to become the bank’s high- profile CEO after having been appointed head of its most powerful and profitable corporate and investment banking division.

Jain also heads the global markets division of Germany’s largest bank, which is also regarded as one of the world’s most successful financial institutions.

It has over 80,000 employees across 72 countries, including India. Last year, he became a member of the bank’s all- powerful management board and has been on the group executive committee since 2002.

Jain’s new position will require him to be responsible for the bank’s sales and trading operations globally, including government and corporate bonds, commodities, emerging markets, equities, foreign exchange, money markets, interest rates and credit derivatives.

But his new role is not going to be an easy one. The position of Deutsche Bank boss is a highprofile job requiring him to hobnob with politicians and business leaders. The outgoing CEO, Josef Ackermann, is a wellknown face in Germany who is often seen dining with Chancellor Angela Merkel and appearing on television chat shows.

Another ‘ drawback’ that has led critics to question the new development is Jain’s alleged inability to speak fluent German.

Analysts have commented that Germans wouldn’t see it as in their interest to have an English- speaking investment banker from London running Deutsche Bank.

When the MBA in finance from the University of Massachusetts, Cambridge, is not dabbling with stocks and shares, he’s busy catching up with his second love — cricket. He captains Deutsche Bank’s London cricket team.

Jain’s love for the game is the stuff of legends. One of the walls in his office has a framed cricket shirt signed by the Australian cricketing brothers Steve and Mark Waugh. The Shri Ram College of Commerce alumnus is also known to take his clients to international matches at the Lord’s cricket ground in London.


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