Former Deutsche Bank co-CEO Anshu Jain will join Cantor Fitzgerald. In a newly created position as group-level president, he will help oversee Cantor's companywide strategy and expansion efforts in areas including fixed-income and equities trading and prime brokerage. According to Howard Lutnick, Cantor Chair and CEO:

"He has vast knowledge and experience across the entire global financial footprint. He's my partner at the parent company, so his roles are very much vision, direction and then helping build the teams to execute. It's not an operating role." - Howard Lutnick, Cantor Chairman & CEO

Mr. Jain, 53, a native of India and British citizen, joined Deutsche Bank in 1995. He helped build its London-based investment bank into a global trading powerhouse and, in 2012, became co-CEO. He left the bank in 2015 when he and co-CEO Jürgen Fitschen were replaced by John Cryan .

Cantor Fitzgerald amd Howard Lutnick.  Cantor, whose roots go back to 1945 when it started as an investment bank and brokerage firm, sells trading and investment-banking services and operates insurance brokerage and investment-management businesses. Mr. Lutnick said he sees opportunities to lure more trading and investment-banking business from big banks in part because of capital constraints that have forced banks to rein in risk-taking since the financial crisis.

Mr. Lutnick said he has known Mr. Jain for many years, and they have become friends over the past several. Their discussions about a role at Cantor intensified gradually during the past year. "I have really longed for a partner," Mr. Lutnick said, noting the company's growth since it was devastated by the Sept. 11, 2001, terror attacks on the World Trade Center in New York. Cantor lost 658 employees in the attacks. The company has more than 10,000 employees and operations in about 25 countries.