Anshu Jain

The first non-European head of Deutsche Bank passes away at 59

Jain recently recruited teams of traders from larger rivals to work at Cantor Fitzgerald as that firm's chief, Howard Lutnick, expanded ambitions in trading and relationships with global investors

Wholesale funding refers to funds borrowed by corporations, in high amounts, through financial institutions

Jain's role in the new company will be as an investor and a mentor, while the entire operation will be headed by his ex-colleague Bhupinder Singh