Deutsche Bank’s former co-chief executive Anshu Jain has joined Cantor Fitzgerald as president.
Jain, who stepped down from his Deutsche Bank duties in 2015, will help Cantor expand in areas including fixed-income and equities trading as well as prime brokerage.
The firm is looking to capitalise as regulations force global investment banks to cut businesses and restrict services to some clients.
“With this outstanding addition, we expect to improve our already exceptional service to clients, extend and expand the products and services we offer, and increase the capital available to assist clients,” said Cantor’s chief executive Howard Lutnik.
Shawn Matthews will remain the president and chief executive officer of Cantor Fitzgerald & Co., the firm’s broker-dealer subsidiary.
Jain's Deutsche Bank career came to an end 18 months ago as the German lender’s profitability started to suffer and legal costs mounted.
John Cryan became the new chief executive at Deutsche Bank in July 2015.