Financial services firm JM Financial said Wednesday it has strengthened its leadership team with a new addition to its institutional equities arm.
The group, which provides services including wealth management, investment banking, mortgage lending, and alternative credit, has appointed Ankur Jhaveri as managing director and CEO of JM Financial Institutional Securities Ltd.
Jhaveri will be tasked with strengthening the firm’s sales, trading, research, and derivatives businesses, JM Financial said in a statement.
Jhaveri has nearly two decades of experience in institutional equities and derivatives. Prior to joining JM Financial, he worked with Axis Capital as managing director.
He holds an MBA from NL Dalmia Institute of Management Studies and Research, and a postgraduate degree in international finance from ICFAI University.
Chirag Negandhi, managing director at JM Financial, said: “With his rich experience, Jhaveri is set to leverage the emerging market opportunities and further accelerate growth for our equities business.”
JM Financial’s investment bank caters to institutional, corporate, government, and ultra-wealthy clients. Besides investment banking services, it includes institutional equities and research, private equity funds, fixed income, private wealth management, portfolio management services, syndication and finance.
The group’s mortgage lending business includes both wholesale and retail mortgage lending while its alternative and distressed credit arm includes the asset reconstruction business and alternative credit funds. The group also offers asset management and wealth management services.
As of September 30, 2024, the group’s consolidated loan book stood at Rs 9,980 crore. The distressed credit business had assets under management of Rs 13,700 crore, wealth management AUM was Rs 1.1 trillion, and mutual fund AUM was Rs 11,450 crore. The Mumbai-based group has a presence across 874 locations spread across 227 cities in India.
