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Investment Banking is perhaps the most monetarily rewarding profession in the entire finance domain. And yet you might be fascinated to know about the extent of monetary compensation that this field could provide to an individual.
Let us illustrate to you, the journey of Nimesh Kampani, India's richest investment Banker, and at a certain period, one of the top 100 richest people in India.
Yes, some of you may know him. Most specifically those who are planning to be investment bankers.
To give you an insight into Mr. Kampani's wealth, consider the fact that JM Financial Ltd's (company founded by Nimesh Kampani) combined direct and indirect equity ownership by the Kampani family ranges between 60 and 65 percent.
His financial resourcefulness and skills are exemplified by the fact that when Kokilaben, the Ambani family mother, wanted to bring an end to the animosity between her two sons and assist them in reaching an agreement, she turned to Mr. Kampani. Even the Tatas haven't done anything major without consulting Kampani.
It is worthy to note, that Nimesh Kampani is a Chartered Accountant and a commerce graduate from Sydenham College in Mumbai.
Short life history
- Nimesh Kampani, a veteran investment banker, began his career as an accountant and joined his family's stockbroking firm in 1972.
- He left the firm to form his investment bank with a cousin, whom he eventually bought out.
- Kampani's flagship company, JM Financial, went public in 1992, attracting investors such as IFC and later partnering with Morgan Stanley.
- After a decade, they split up, with Kampani purchasing Morgan Stanley's stake.
- When Kampani turned 70 in 2016, he handed over control to his son Vishal, though he continues to remain non-executive chairman.
Recently though he has been in deep controversies.
In 2009, he was alleged with forgery and hiding in Dubai.
At that time, an article in Hindustan Times read, “ The man who heads India's best-known investment bank, JM Financial, and who was ranked 42nd richest man in India by Forbes last year with a net worth of $1.3 billion, has been hiding in Dubai, evading arrest in India.”
It was a case that perhaps combines the worst of corporate wrongdoing and political scheming. Kampani was named in the case involving a payment default by a Hyderabad-based company, Nagarjuna Finance, to investors totaling Rs 100 crore.
Kampani served on the board of Nagarjuna Finance as an independent director. "He resigned in early 1999, and it is an accepted position that the company started defaulting after he resigned," his son, Vishal Kampani, said.
In 2016, the supreme court finally stayed the order for Nimesh Kampani's arrest!
Currently, Nimesh Kampani has stepped down from his position as a chairman of JM Financials and has passed down the reigns to his son now!
Certainly, there were moments of his life filled with struggle and travesties and still, he is a towering personality in the domain of investment banking.
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