Cantor Fitzgerald, a US-based private trading firm, has appointed former Deutsche Bank co-CEO Anshu Jain as president.

Jain in this newly created position will oversee the companywide strategy and expansion efforts in areas including fixed-income and equities trading and prime brokerage.

He will work alongside Cantor Fitzgerald chairman and CEO Howard Lutnick.

“Anshu has a proven track record as a pioneer and builder of leading global businesses. He has a deep understanding of the global capital markets, and strong expertise built over decades of leadership in the industry, making Anshu my ideal partner to drive growth during the next era of Cantor’s development,” Lutnick said.

Jain previously also worked at Merrill Lynch, and served on the International Advisory Panel of the Monetary Authority of Singapore.

“Cantor has expanded dramatically over the past 15 years, and I am excited to join Howard and the partners of Cantor Fitzgerald as we set course for the next era of the Firm’s growth,” Jain stated.

Shawn Matthews will remain in the role of president and CEO at Cantor Fitzgerald & Co, the firm’s broker-dealer arm.