JM Financial Limited informed that the Board of Directors of the Company, at its meeting approved the appointment of Mr. Nishit Shah as the Chief Financial Officer of the Company in place of Mr. Manish Sheth. The above change in the CFO (KMP) shall be effective from October 1, 2023. Nishit Shah Joined Citibank NA as an industrial trainee in 2003-04 in their financial planning and analysis division. Started his professional career in December 2004 with Morgan Stanley as an analyst in their Investment Banking division. During his stint with Morgan Stanley, he worked with teams in Asia,
Europe and US on large fund raising and mergers and acquisition transactions in the media and telecom industry. He also completed a rotation program in Morgan Stanley's investment banking offices in London. Joined JM Financial's Investment Banking division in 2007 where-in he led and worked on several large sized and complex fund raising, mergers, acquisition and restructuring transactions primarily in the financial services sector.
After spending twelve years in Investment Banking, he joined the Business Strategy and Investor relations function of JM Financial Group. He has been leading the Group's strategic initiatives, financial planning, debt raising through private placement and public issues, restructuring, interaction with analysts and has been an integral part in the roll out of new businesses, equity fund raising, and other corporate actions. He is also leading the planning and raising of debt resources for JM Financial Group as well as the Group's treasury investments. He is a member of JM Financial Group's Asset Liability Management Committee. In addition, since 2019, he has also been appointed as the Chief Financial Officer of JM Financial Products Limited, a Non-Banking Financial Company, and heads the financial planning, accounting, borrowing and treasury functions. He is a member of Asset Liability Management Committee, Executive Committee to sanction loans and the Risk Management Committee of JM Financial Products Limited.
Rank holder Bachelor of Commerce (2003) graduate from Mumbai University and a rank holder Chartered Accountant (2004) from the Institute of Chartered Accountants of India. He has also successfully completed the Chief Financial Officer Program from the Indian Institute of Management, Calcutta.