Isenberg Graduate Is Co-CEO of Deutsche Bank
June 1, 2012
Anshu Jain, a 1985 Isenberg MBA graduate, begins an appointment today as co-CEO of Deutsche Bank AG. Although he will share power with co-CEO Jugen Fitschen, the Wall Street Journal and others expect that Jain, the first non-German speaker to run the bank, will dominate. Observers predict that the Isenberg graduate will move quickly to cut fat at Germany's largest bank by selling and otherwise eliminating businesses that fall short of profitability.
Before becoming co-CEO, Jain was head of Deutsche Bank's investment banking business, which typically generates 70% of the parent company's profits. He joined the bank in 1995, after working for Merrill Lynch and Kidder Peabody.
Jain credits Michael & Cheryl Philipp Professor of Finance Thomas Schneeweis at Isenberg as the mentor who helped him launch his career.