Sardara Singh Johl

Sardara Singh Johl (born 1928) is an Indian agriculture economist, writer, politician and the chancellor of the Central University of Punjab. A former National Professor of Agricultural Economics of the Indian Council of Agricultural Research, he served as the vice chancellor of the Punjabi University and Punjab Agricultural University during different tenures and chaired the Commission for Agricultural Costs and Prices set up by the Government of India. He is a former director of the Central Board of Governors of the Reserve Bank of India and a former consultant to international bodies such as Food and Agriculture OrganizationWorld Bank and United Nations Economic and Social Commission for Western Asia. The Government of India awarded him the third highest civilian honour of the Padma Bhushan, in 2004, for his contributions to Agriculture and agriculture education.



Sardara Singh Johl was born in a farmers’ family on 8 February 1928 in Lyalpur (present-day Faisalabad in Pakistan) in the British India to S. Boota Singh and did his early schooling at the local village school. After securing his graduate (BSc) and post graduate degrees (MSc) in agriculture and agriculture economics respectively from Punjab University, he continued his studies to obtain a master’s degree (MA) in economics and, later, a doctoral degree (PhD) from Punjabi University in 1952. He started his career the same year in agriculture and rural development in the hilly regions of Punjab where he worked for eight years before joining Punjab Agricultural University as an assistant professor and rose to the position of a professor and the Head of the Department of Economics and Sociology in 1965.

Johl held several notable academic positions; he held the vice-chancellorship of Punjabi UniversityPunjab Agricultural University and Haryana Agricultural University before being appointed as the chancellor of the Central University of Punjab in 2012, thus becoming the first chancellor of the university. He has chaired the Commission for Agricultural Costs and Prices and sat in the Central Board of Governors of the Reserve Bank of India. He has been the vice-chairman of the Punjab State Planning Board and a visiting professor at Ohio State University and London School of Economics. It was during his stint as the head of the Advisory Committee on Agriculture Policy of the Government of Punjab, he proposed the crop rotation and diversification for the wheat and rice farmers of the state, by introducing subsidies to the farming community for switching to other crops, popularly known as the Johl Plan. He served as a member of the Economic Advisory Council during the tenancy of four different Union GovernmentsPunjab Government and as a consultant to Tamil Nadu GovernmentGujrat GovernmentSri Lankan GovernmentFood and Agriculture OrganizationWorld Bank and the United Nations Economic and Social Commission for Western Asia. He is a fellow of International Society of Economists, former president of the Indian Society of Agricultural Economics, Agricultural Economics Research Association, Indian Society for Agricultural Marketing and Punjab Sahit Akademi. Known to be vocal in socio-political comments,

When International Agricultural Economics Association held its annual conference in Minsk in the erstwhile USSR (presently the capital city of Belarus) in 1970, Johl chaired three of its sessions. He has prepared several government reports, such as Rationalisation of Electricity Tariff in PunjabDiversification of Agriculture in Punjab, Structural Adjustments in Cropping Patterns for Growth and Productivity in Punjab and Structural Reforms in Agricultural Sector for Productivity and Growth in India, which are reported to have helped in government policy formulations. Besides, he has published over 200 articles in national and international journals. He has also documented his own life in an autobiography, Ranga di Gagar, written in Punjabi language, which has since been translated into Hindi and Urdu languages.

Awards and honors

Johl is an elected fellow of the Punjab Academy of Sciences and the National Academy of Agricultural Sciences. The Government of India awarded him the civilian honor of the Padma Bhushan in 2004 and Punjab University conferred the degree of DLitt (honoris causa) on him in 2005. He also received honorary doctorates from Punjabi University and Guru Nanak Dev University, Amritsar. The Indian Council of Agricultural Research (ICAR) appointed him as the National Professor of Eminence and Punjab Sahit Akademi inducted him as a life member. He is also a recipient of Chief Khalsa Diwan Centenary Award, Punjab Agricultural University Golden Jubilee Outstanding Alumni Award, Mahan Punjabi Award of the Professor Mohan Singh Foundation and Dr. Madan Gold Medal Award.

Pramit Jhaveri

Pramit Jhaveri is an Indian banker and ex-CEO of Citi. He served as Citi’s India CEO from 2010 to 2019 and is the longest-serving India chief of the bank. Prior to his role as CEO, Pramit set up Citi’s investment banking business in India.

In 2019, he was elevated to the position of Vice Chairman – Banking, Capital Markets and Advisory (BCMA), Asia Pacific, Citi with the responsibility of enhancing key client relationships in the region.


Early life

Pramit was born in Mumbai in the family of a jeweler businessman. Pramit completed his schooling from Campion School, Mumbai and earned his Bachelor of Commerce from Sydenham College in Mumbai. He holds an MBA specialising in finance and economics from Simon Business School of the University of Rochester, which is located in New York, United States.


Pramit’s joined Citi India in 1987 as a campus recruit from the Simon School of Business. He served Citi in various roles and became the CEO heading Citi India business in 2010.

In 2016, Pramit was made the Cluster Head for South Asia with oversight of Bangladesh and Sri Lanka.

Citi was also repeatedly recognized as the best foreign bank in the country during this time.


Pramit is also Managing Director and Head of India Investment Banking at Citigroup Global Markets India Private Limited.

Pramit is a Director on the Global Board of U.S.-India Business Council, and Pratham Education Foundation. He is also on the Board of Trustees of India Foundation for the Arts and on the Council of Advisors for American India Foundation.


In 2016, Pramit received the Distinguished Alumnus Award from his alma mater Simon School of BusinessUniversity of Rochester, USA.


Pramit is married to Mukeeta, and they have a son, Prithvir, and a daughter, Nynika. Mukeeta was an investment banker with Merrill Lynch and quit her job after marriage. Pramit, along with his family, lives in Mumbai.

Pramit is an avid tennis player and art collector.

Amitabh Chaudhry

Amitabh Chaudhry (born 1964) is an Indian banker, and the managing director (MD) and chief executive officer (CEO) of Axis Bank, the third largest private sector bank in India. He joined Axis in January 2019, after heading HDFC Life Insurance for nine years.


Chaudhry is an engineer from Birla Institute of Technology and Science, Pilani, and has done his post graduation in Business Management from Indian Institute of Management Ahmedabad.


Prior to HDFC Life, Chaudhry was the MD and CEO of Infosys BPO and the Head of testing unit of Infosys Technologies Ltd. Chaudhry began his career with Bank of America in 1987 and undertook diverse roles such as Head of Technology Investment Banking for Asia, Regional Finance Head for Wholesale Banking and Global Markets, and Chief Finance Officer of Bank of America (India). Later, he moved to Credit Lyonnais Securities in 2001 as the Head of Investment Banking franchise for South East Asia

O. P. Bhatt

Om Prakash Bhatt (born 7 March 1951) is an Indian banker and was the Chairman of State Bank of India from June 2006 until 31 March 2011 Presently, he is an independent director on the board of the ‘Maharatna’ Central Public Sector Enterprise – Oil and Natural Gas Corporation Ltd (ONGC), Tata Steel Ltd and also Hindustan Unilever Ltd. (HUL). On 25 November 2016 he was made chairman of TATA Steel.

Early life

Om Prakash Bhatt was born on 7 March 1951 in Dehradun, Uttarakhand. He was National Science Talent Search Scholar in Physics at DAV College, Dehradun. He obtained an MA in English Literature from Meerut University. His favorite holiday destinations are hills in Uttarakhand and North-East (he was Chief General Manager of NE Circle).


P. Bhatt Started his career as a probationary officer in SBI in 1972. He also served as Managing Director, State Bank of Travancorefrom January 2005 to April 2006. Before becoming Managing Director of SBT he was Chief General Manager of North-East Circle and within a year he lifted the circle from bottom to No. 1 position.

He was appointed Chairman of SBI in June 2006. He retired in March 2011 and had a long tenure as SBI Chairman in the recent past, one of the very few who served 5 years as Chairman. He is best known for transforming SBI and bringing efficiency and competitiveness in operations. Under his chairmanship, SBI adopted an aggressive strategy in marketing and operations.

He was the Chairman of the Indian Banks’ Association (IBA) for the year 2010–11. Currently he is working as an Independent Non-Executive director in Board member for TATA Steel Limited.

Bhatt is a non-executive director of Standard Chartered.

Viral Acharya

Viral V. Acharya (born 1 March 1974) is an Indian economist who was appointed as Deputy Governor of Reserve Bank of India (RBI). He also served as a member of the advisory council of the RBI Academy and was a member of the Academic Council of the National Institute of Securities Markets (NISM), Securities and Exchange Board of India (SEBI) since 2014. As of 23 January 2017, he was appointed to serve a three-year term as a Deputy Governor of the Reserve Bank of India. He resigned from the post in July 2019 with 6 months left for his completion of term.




He went to Fellowship High School,Mumbai. Acharya was ranked fifth nationally in 1991 in the Joint Entrance Examination on the basis of which admissions are made to the Indian Institutes of Technology in India. He graduated from the Indian Institute of Technology Bombay in 1995 with a Bachelor of Technology degree in Computer Science and Engineering, receiving the President of India Gold Medal for attaining the highest grade point average in his batch..

In his final year at IIT Bombay, he enrolled in an elective in international finance.  He initially joined the PhD program in computer science at New York University, but after a year switched to the PhD program in finance at New York University Stern School of Business. He graduated in 2001, with his dissertation thesis titled Essays in Banking and Financial Institutions.

Academic career

After obtaining his PhD, Acharya worked at the London Business School (LBS) from 2001 to 2008. Between 2007 and 2009, he was the Academic Director of the Coller Institute of Private Equity at the LBS. In 2008, he received a Houblon-Norman Senior Fellowship at the Bank of England. Since 2008, he is attached to the New York University Stern School of Business (NYU Stern), where he held the C.V. Starr Professor of Economics chair.

Reserve Bank of India

On 28 December 2016, Acharya was appointed by the Central Government of India as Deputy Governor of the Reserve Bank of India for a period of three years, starting on 20 January 2017. In June 2019, Viral Acharya quits as RBI Deputy Governor six months before end of his term.

Personal life[edit]

He has composed a music album titled Yaadon Ke Silsile.


Acharya is a recipient of the Alexandre Lamfalussy Senior Research Fellowship of the Bank for International Settlements for 2017, and the inaugural Banque de France and Toulouse School of Economics Junior Prize in Monetary Economics and Finance in 2011.



Abhijit Banerjee

Abhijit Vinayak Banerjee ( born 21 February 1961) is an India-born naturalized-American economist who is currently the Ford Foundation International Professor of Economics at Massachusetts Institute of Technology. Banerjee shared the 2019 Nobel Memorial Prize in Economic Sciences with Esther Duflo and Michael Kremer “for their experimental approach to alleviating global poverty”.He and Esther Duflo, who are married, are the sixth married couple to jointly win a Nobel Prize.

Banerjee is a co-founder of Abdul Latif Jameel Poverty Action Lab (along with economists Esther Duflo and Sendhil Mullainathan). He is a research affiliate of Innovations for Poverty Action and a member of the Consortium on Financial Systems and Poverty. Banerjee was a president of the Bureau for the Research in the Economic Analysis of Development, a research associate of the National Bureau of Economic Research, a research fellow at the Centre for Economic Policy Research, an international research fellow of the Kiel Institute, fellow at the American Academy of Arts and Sciences, and a fellow at the Econometric Society. He also has been a Guggenheim Fellow and an Alfred P. Sloan Fellow. He is the co-author of Poor Economics. He also serves on the academic advisory board of Plaksha University, an upcoming science and technology university in India.[  His new book, co-authored with Esther Duflo, Good Economics for Hard Times, was released in October 2019 in India by Juggernaut Books. He was sent to Delhi’s Tihar Jail for 10 days for participating in protests at Jawaharlal Nehru University in 1983.



Early life

Abhijit Banerjee was born in Bombay, MaharashtraIndia. His father, Dipak Banerjee, was a Bengali Indian professor of economics at Presidency College, Calcutta, and his mother Nirmala Banerjee (née Patankar), a Marathi Indian professor of economics at the Centre for Studies in Social Sciences, Calcutta. His father, Dipak Banerjee, earned a PhD in economics from the London School of Economics.

He received his school education in South Point High School, a renowned educational institution in Calcutta. After his schooling, he took admission at Presidency College, then an affiliated college of the University of Calcutta and now an autonomous university, where he completed his BSc(H) degree in economics in 1981. Later, he completed his M.A. in economics at the Jawaharlal Nehru University (JNU), Delhi in 1983. While studying in JNU, he was arrested and imprisoned in Tihar Jail during a protest after students gheraoed the then Vice Chancellor PN Srivastava of the university. He was released on bail and charges were subsequently dropped against the students. Later, he went on to obtain a PhD in Harvard University in 1988. The subject of his doctoral thesis was “Essays in Information Economics.”


Banerjee is currently the Ford Foundation International Professor of Economics at the Massachusetts Institute of Technology; he has taught at Harvard University and Princeton University.

His work focuses on development economics. Together with Esther Duflo he has discussed field experiments as an important methodology to discover causal relationships in economics. He was elected a fellow of the American Academy of Arts and Sciences in 2004. He was also honored with the Infosys Prize 2009 in the social sciences category of economics. He is also the recipient of the inaugural Infosys Prize in the category of social sciences (economics). In 2012, he shared the Gerald Loeb Award Honorable Mention for Business Book with co-author Esther Duflo for their book Poor Economics.

In 2013, he was named by the United Nations Secretary General Ban Ki-Moon to a panel of experts tasked with updating the Millennium Development Goals after 2015 (their expiration date).

In 2014, he received the Bernhard-Harms-Prize from the Kiel Institute for the World Economy.

In 2019, he delivered Export-Import Bank of India’s 34th Commencement Day Annual Lecture on Redesigning Social Policy.

In 2019, he was awarded the Nobel Prize in Economics, together with Esther Duflo and Michael Kremer, for their work alleviating global poverty.


Banerjee and his co-workers try to measure the effectiveness of actions (such as government programmes) in improving people’s lives. For this, they use randomized controlled trials, similar to clinical trials in medical research.  For example, although polio vaccination is freely available in India, many mothers were not bringing their children for the vaccination drives. Banerjee and Prof. Esther Duflo, also from MIT, tried an experiment in Rajasthan, where they gifted a bag of pulses to mothers who vaccinated their children. Soon, the immunization rate went up in the region. In another experiment, they found that learning outcomes improved in schools that were provided with teaching assistants to help students with special needs.

Personal life

Abhijit Banerjee was married to Dr. Arundhati Tuli Banerjee, a lecturer of literature at MIT. Abhijit and Arundhati had one son together and later divorced. His son Kabir Banerjee (born 1991), from his first marriage, died in an accident in 2016. In 2015, Banerjee married his co-researcher, MIT professor Esther Duflo; they have two children. Banerjee was a joint supervisor of Duflo’s PhD in economics at MIT in 1999. Duflo is also a Professor of Poverty Alleviation and Development Economics at MIT.




Abhijit Banerjee was awarded the Nobel Memorial Prize in Economic Sciences in 2019 along with his two co-researchers Esther Duflo and Michael Kremer “for their experimental approach to alleviating global poverty”.

The press release from the Royal Swedish Academy of Sciences noted: “Their experimental research methods now entirely dominate development economics.”

The Nobel committee commented:

“Banerjee, Duflo and their co-authors concluded that students appeared to learn nothing from additional days at school. Neither did spending on textbooks seem to boost learning, even though the schools in Kenya lacked many essential inputs. Moreover, in the Indian context Banerjee and Duflo intended to study, many children appeared to learn little: in results from field tests in the city of Vadodara fewer than one in five third-grade students could correctly answer first-grade curriculum math test questions.

“In response to such findings, Banerjee, Duflo and co-authors argued that efforts to get more children into school must be complemented by reforms to improve school quality.”

The Nobel Prize was a major recognition for their chosen field – Development Economics, and for the use of Randomised Controlled Trials. It evoked mixed emotions in India, where his success was celebrated with nationalistic fervour while approach and pro-poor focus were seen as a negation of India’s current government’s ideology as well as broader development discourse.

Vikram Akula

Vikram Akula is an American banker and the founder of SKS Microfinance (now BFIL), a micro finance company and former chairperson of Bharat Financial Inclusion Ltd. SKS was an organization that offered microloans and insurance to poor women in India. He stepped down as SKS Chairperson in November 2011 and became Chairperson Emeritus.

Akula is also a founding investor and a Director in AgSri, a sustainable agriculture company focused on helping small sugarcane farmers reduce water use, and a Director in Bodhi Educational Society, which establishes schools for underprivileged children in India. In 2006, he was named by TIME magazine as one of the 100 most influential people in the world for his work in financial inclusion.

Akula currently serves as Chairperson of VAYA Finserv Private Limited. Founded in 2014, the India-based company markets financial services to low-income groups on behalf of partner banks.


Early life and education

Akula’s father, Akula.V. Krishna, was a surgeon who settled in SchenectadyNew York, where Akula went to school. Akula graduated from Niskayuna High School in 1986 and enrolled at Tufts University, where he graduated as a double major in philosophy and English with honors in 1990. He went to Yale University for a M.A. in International Relations, and was awarded a Fulbright scholarship for an action-research microfinance project in India in 1994–95. He completed his Ph.D. in Political Science from the University of Chicago in 2004.


Upon graduating from Tufts, Akula returned to India for a short while in 1990 and worked with the Deccan Development Society, a small grassroots rural non-profit organization. He then returned to USA and worked for the Worldwatch Institute in Washington D.C. as a researcher, where he wrote articles about poverty and sustainable development. During his Fulbright, Akula returned to the Deccan Development Society, where he helped manage the organization’s microfinance program. Akula saw the limitation of non-profit microfinance and proposed a more market-based approach. He outlines his philosophy in his book, A Fistful of Rice; My Unexpected Quest to End Poverty Through Profitability, published by Harvard Business Press in 2010.

SKS Microfinance

In 1996, Akula completed his Fulbright and went to the University of Chicago to pursue his Ph.D, which he completed in 2004. As a Ph.D. student, he created a business plan for a for-profit microfinance company and in December 1997, Akula returned to India to set up Swayam Krishi Sangam (SKS) as a vehicle to implement the plan. Initially set up as a non-profit, SKS converted to the for-profit SKS Microfinance in 2005. SKS Microfinance secured a round of equity investment of $11.5 million in March 2007, led by Sequoia Capital. In November 2008, SKS raised an equity investment of $75 million, the largest equity investment raised by an MFI to that date. SKS raised additional equity from Infosys founder Narayan Murthy and Bajaj Allianz, which represented the first-ever microfinance investment by an insurance company.

In mid-August 2010, SKS Microfinance had an initial public offering (IPO) on the Bombay Stock Exchange, which raised $350 million and was oversubscribed 14 times and which included anchor investors such as George Soros. According to the company’s website, SKS Microfinance has disbursed more than $15 billion in micro-loans.

Akula resigned from the role of Executive Chairperson on November 23, 2011 and he relinquished his role as a promoter of SKS on May 3, 2014.


When founding SKS, Akula drew inspiration from the work of Muhammad Yunus, the Nobel prize winner and founder of the Grameen Bank in Bangladesh, one of the world’s first microfinance organizations. In a face-to-face debate with Yunus at the 2010 Clinton Global Initiative, Akula insisted that going public is the only way for an MFI to raise sufficient funds to provide micro-loans for billions of poor people in need worldwide.


Awards and recognition

Akula has received several awards for his work with SKS.

  • Timemagazine’s 100 Most Influential People of the Year in 2006
  • Social Entrepreneur of the Year in India, 2006
  • Ernst & Young Entrepreneur of the Year in India (Start-up, 2006)
  • Ernst & Young Entrepreneur of the Year in India (Business Transformation, 2010)
  • India Today, India’s 50 Most Powerful People, 2009
  • Forbes India, Person of the Year nominee, 2009
  • Godfrey Phillips National Bravery Award, 2010
  • World Economic Forum’s Young Global Leader award, 2008
  • Echoing GreenPoverty Alleviation Economic Development – 1998 Fellow
  • Karmaveer Puraskaar Noble Laureates, 2006–2007.


Sanjay Agarwal

Sanjay Agarwal is an Indian businessperson and founder of AU Small Finance Bank, where he is currently serving as the Managing Director & CEO. He was named Ernst & Young Entrepreneur of the Year Award 2018 in financial services.



He has a bachelor’s degree in commerce from the Government College, Ajmer. He is a chartered accountant from the Institute of Chartered Accountants of India.


After clearing CA in 1995, Sanjay started his own venture in Jaipur. Realizing the lack of institutions to cater to the financial needs of people in rural and semi-urban Rajasthan, he decided to start a financing firm, the erstwhile Au Financiers in 1996.

He started the business with the help of a few High Net worth Individuals (HNIs) in Jaipur. For over 2 decades, Au Financiers provided funding for income generating assets and partnered with customers.

In 2015, the Reserve Bank of India commenced the Small Finance Bank (SFB) category in India to encourage financial inclusion. Of the 72 companies that applied for the SFB license, 10 received licenses. AU Bank was the only non-banking finance company to receive this license.

Agarwal was first appointed as Managing Director of Au Financiers on February 14, 2008. As the company transformed into a Small Finance Bank on April 19, 2017, he became the Managing Director & CEO of AU Small Finance Bank.

In 2017, the IPO of the AU Bank was oversubscribed by more than 53 times. As of July 2018, the bank has a valuation of close to ₹20,000 crore (US$3 billion). Sanjay’s market wealth is about ₹4,000 crore (US$561 million).

Awards & honour


Viswas Raghavan

Viswas (“Vis”) Raghavan is the Chief Executive Officer for J.P. Morgan. in Europe, the Middle East and Africa (EMEA). In 2020, he was additionally named co-head of the firm’s Global Investment Banking business.


Raghavan is CEO and member of the Board of J.P. Morgan Securities Plc, J.P. Morgan Europe Limited and Chairman of the London Branch of J.P. Morgan Chase Bank, N.A.

He joined J.P. Morgan in 2000 from Lehman Brothers, initially to head up its equity-linked and derivatives capital markets business for Europe and Asia.

He has since held various senior jobs at the bank, including head of International Capital Markets and global head of Equity Capital Markets.

Raghavan grew up in India and studied physics at the University of Bombay before completing a postgraduate degree in electronic engineering and computer science at Aston University in the U.K. He also qualified as a Chartered Accountant with Ernst & Young, and it was then that he started thinking about a career in investment banking. While at Aston University, he worked as a systems engineer at General Signal’s European headquarters in Birmingham.

In a 2017 press interview, he described banking as “the perfect marriage of quantitative skills and real-life business situations. You’re at the cutting edge of strategic thinking, and there is immense satisfaction and pleasure that comes from helping clients – companies, investors, governments and supranationals – with their strategic business and funding needs.”

In 2016, he was awarded an honorary doctorate in science from Aston University.

Personal life

Raghavan is a keen follower of football and an avid supporter of Arsenal F.C. He is also a lifelong devotee of cricket and has been instrumental in driving J.P. Morgan’s lead sponsorship of Lord’s Cricket Ground. He lists architecture, art and tennis amongst his other hobbies.

He is married with four children.


Anshu Jain

Anshuman Jain (born 7 January 1963) is a British Indian business executive. Since 2017, he has been the president of the American financial services firm Cantor Fitzgerald.

He previously served as the co-CEO of Deutsche Bank from June 2012 until July 2015.Jain was also a member of Deutsche Bank’s Management Board. He was previously head of its Corporate and Investment Bank, globally responsible for Deutsche Bank’s corporate financesales and trading, and transaction banking business. Jain remained a consultant to the bank until January 2016.


Early life and education

Jain was born in Jaipur, India, and his father was a civil servant. He was raised in the Jain religion. He is a cousin of Ajit Jain, who since 2018 has been vice chairman of insurance operations for Berkshire Hathaway. When he was six Jain moved with his father to New Delhi, and attended Delhi Public School, Mathura Road.

He studied economics at Shri Ram College of Commerce at the University of Delhi, earning BA degree in 1983. He then moved to the U.S. at the age of 19, and in 1985 he received an MBA in finance from the Isenberg School of Management at the University of Massachusetts Amherst, and studied there with Thomas Schneeweis, an expert in alternative investments such as futures, options, and derivatives.


Kidder Peabody and Merrill Lynch, 1985–1995

After receiving his MBA, Jain began his career on Wall Street. He was hired as an analyst in derivatives research at Kidder, Peabody & Co., where he worked from 1985 to 1988.

In 1988, he moved to Merrill Lynch.He spent seven years there, setting up and running its global hedge fund coverage group, selling interest-rate swaps and other financial products to hedge funds. At the company he met Edson Mitchell, a talented investment banker who became his mentor.

Deutsche Bank investment banker and executive, 1995–2012

In 1995, Deutsche Bank hired Jain’s mentor Edson Mitchell away from Merrill Lynch and tasked him with creating a world-class investment bank division in London. Mitchell brought Jain with him, and hired hundreds of Merrill Lynch investment bankers to accompany them to London. Jain joined Deutsche Bank in June 1995 to head a combined group which marketed fixed-income derivatives to large investors and hedge funds.In February 1997, he was named head of Deutsche Bank’s newly formed Global Institutional Client Group, and expanded fixed income into foreign exchange and credit derivatives. In mid 2000, he became head of global capital markets’ sales, over-the-counter derivatives, global credit derivatives, and emerging markets.

When Mitchell died in a plane crash in December 2000, Jain succeeded him as head of Global Markets in early 2001. In September 2004, he was appointed co-head of the Corporate and Investment Bank, together with Michael Cohrs; Jain’s responsibility was for the equities trading division and integrating it with the fixed-income division he already headed. This investment bank division was highly profitable under his leadership and produced the lion’s share of Deutsche Bank’s profits. Jain was noted as having helped build Deutsche Bank into a fixed-income powerhouse, more than doubling debt sales and trading revenue between 2000 and 2009, and for building Deutsche Bank into a global investment bank that rivalled Wall Street’s giant firms.

Cohrs retired in 2010, and Jain became head of the entire Corporate and Investment Bank, overseeing global sales and trading operations that included bonds, commodities, emerging markets, equities, foreign exchange, money markets, credit derivatives, and interest-rate trading. This put Jain in charge of the unit that generated more than 80% of Deutsche Bank’s profit, which strengthened his position as a probable successor to CEO Josef Ackermann, even though Jain was based in London and spoke no German. He had already been appointed to Deutsche Bank’s 12-member Group Executive Committee, newly created by Ackermann, in 2002, and to its Management Board (Vorstand) in 2009.

Co-CEO of Deutsche Bank, 2012–2015

In July 2011, Jain was appointed co-CEO of Deutsche Bank, along with native German Jürgen Fitschen, effective 1 June 2012. During their years of co-leadership, Fitschen handled Deutsche Bank’s retail bank and German affairs, and also handled the Deutsche Bank’s relations with the Berlin government and other German stakeholders. Jain led the investment bank plus asset and wealth management, and was the face of Deutsche Bank internationally.

Jain combined the bank’s asset management and wealth management divisions into a single unit, and expanded it to be a global competitor closer in size to Deutsche Bank’s other major units. He put Michele Faissola in charge of the unit, and to assist expansion had it do cross-business with Deutsche Bank’s investment banking division.

During Jain’s tenure as co-CEO, Deutsche Bank was faced with a variety of regulatory investigations into and litigation concerning its 21st-century activities, many of them regarding divisions which Jain had had broad oversight for at the time and which CEO Ackermann had pressured to deliver increasingly outsized profits. Many of these investigations resulted in steep fines. In March 2013, Deutsche Bank restated its 2012 earnings report due to litigation costs, and Jain’s and Fitschen’s compensation for 2012 was cut to €4.8 million ($6.2 million) each. Subsequent regulatory fines included $2.5 billion in penalties in April 2015 to four regulators in the U.S. and UK over claims that Deutsche Bank traders had manipulated key interest-rate benchmarks such as the London Interbank Offered Rate (Libor) between 2005 and 2011. Deutsche Bank had already paid nearly $1 billion in 2013 in a European Commission antitrust investigation into Libor; the 2015 penalty brought its total Libor fines to $3.5 billion.

Jain and Fitschen made headway in capitalizing the bank and cutting costs. They sold holdings, reduced trading risk, and adjusted internal models to reduce the amount of capital needed to absorb losses. Jain lowered the bank’s risk by unloading opaque, hard-to-trade assets. He also reduced bonuses. As time went on, however, shareholders found the improvements insufficient, regulatory fines and litigation fees sharply cut into profitability, and shareholders grew frustrated as Deutsche Bank failed to meet profit or earnings targets and as share price underperformed.

During his co-CEO tenure Jain was also faced with criticism for not restructuring and transitioning Deutsche Bank away from the high-risk, increasingly scrutinized and regulated field of investment banking sufficiently or soon enough. A five-year restructuring plan that he and Fitschen unveiled in April 2015 was viewed by many shareholders and analysts as too little too late, and at the bank’s annual meeting in May 2015 only 61% of shareholders voted in favor of the two co-CEOs’ plan.

Seeing this as a loss of shareholder confidence, and facing criticism from employees over job cuts and closures in the restructuring plan,[  and in the wake of the April 2015 Libor fine and report plus a subsequent $55 million SEC fine and an internal Russian money-laundering probe, Jain and Fitschen announced their resignation on 7 June 2015. Fitschen stayed on as transition co-CEO with newly appointed CEO John Cryan through 19 May 2016. Jain’s resignation was effective 30 June 2015, and he stayed on as an unpaid advisor to the bank until January 2016.

Career after Deutsche Bank, 2015–present

In 2016, Jain became an advisor to the San Francisco-based company SoFi (Social Finance, Inc.), a fintech firm.

In January 2017, he became president of Cantor Fitzgerald, a mid-sized, private New York-based firm, headed by Howard Lutnick, which offers investment banking and other financial services. Jain also stepped down from his role at SoFi.  He was hired at Cantor Fitzgerald to help expand fixed-income and equities trading as well as prime brokerage, and he works alongside Lutnick and directs strategy, vision, and operational foundation across the firm’s businesses.

Jain is on the advisory board of InCred, a non-banking financial company in India. He is on the finance group advisory board of the MIT Sloan School of Management. He is on the board of trustees of Chance to Shine, a British charitable foundation. He is a member of the advisory board of the Wildlife Conservation Trust, based in India. He was previously on the board of directors of the Institute of International Finance, was a member of the Financial Services Forum, and served on the international advisory panel of the Monetary Authority of Singapore.


In 2003 Jain received Euromoney magazine’s Capital Markets Achievement Award. In 2006 he was honoured by the American India Foundation for his philanthropy and leadership. In 2010 he received Risk magazine’s Lifetime Achievement Award, as well as the annual Business Leader Award from NASSCOM. In 2012 he was named Global Indian of the Year by The Economic Times at the Economic Times Awards. In 2014, he was awarded an Honorary Fellowship from London Business School, and an Honorary Doctorate by TERI University in New Delhi.

Personal life

Jain lives in London, and also has a residence in New York City. His wife, Geetika, is a travel writer and children’s book author. They have two children.

His interests include cricket, wildlife photography, and conservation.