Leadership rejig at JM Financial; Vishal Kampani to become non-exec VC, two senior dealmakers elevated as Joint MDs

Leading financial services firm JM Financial which provides services ranging from investment banking to asset management has announced key changes to its top leadership which include Vishal Kampani stepping down as the Managing Director and taking over the role of non-executive Vice Chairman with effect from October 1, 2021.

Atul Mehra and Adi Patel have been appointed as Joint Managing Directors of the firm with effect from October 1, 2021, for a period of up to 3 years. The decisions were taken following a board meeting held on September 23 following the recommendations of the nomination and remuneration committee.

“The five-year term of Vishal Kampani as Managing Director of the Company is coming to an end on September 30, 2021, and he has voluntarily decided not to get re-appointed as the MD in line with the requirement of regulation 17(1B) of the Listing Regulations coming into effect from April 1, 2022, which inter alia, requires that the Chairman not be related to the MD. Vishal Kampani is a relative (son) of Nimesh Kampani, who is the non-executive Chairman of the Company and hence this decision,” the firm said in a disclosure to the exchanges.

A closer look at the new Joint MDs