Nimesh Kampani to retire from JM Fin, son Vishal new MD

MUMBAI: Ace investment banker Nimesh Kampani on Tuesday announced his retirement from the executive roles at JM Financial group. The company’s board has appointed

MUMBAI: Ace investment banker Nimesh Kampani on Tuesday announced his retirement from the executive roles at JM Financial group. The company’s board has appointed his son Vishal to succeed him as managing director (MD).

HT Image

“I believe it is important for all businesses to implement a proper succession plan, and I am committed to follow the same,” Kampani said.

The dealmaker, who was key to a slew of deals and also brokered the division of Reliance Industries between the Ambani brothers, will retire from executive roles from September 30, on turning 70. He will continue as non-executive chairman of the company, which began operations in 1973.

His 39-year-old son Vishal, who in 2008 diversified the deal-making business into other streams, including lending, will take over as MD from October 1.

At present, Vishal is the MD of the group’s non-bank lending arm JM Financial Products, and heads the institutional securities business. The non-banking part of the business headed by him contributes 70% to the group’s revenues.