JM Financial Appoints Ranganath Char as Executive Director and Head -Capital Market Products

Mumbai, October 3, 2007: JM Financial has announced the appointment of Mr. Ranganath Char as Executive Director and Head - Capital Market Products for its Investment Banking business – JM Financial Consultants Private Limited.

Mr. Char is an industry veteran and has largely been in the area of designing, developing and delivering capital market solutions to corporates and their businesses. His expertise spans a wide range of financial products including issue management, corporate advisory, disinvestment and loan syndication.

Announcing the appointment, Mr. Nimesh Kampani, Group Chairman said, “Ranganath has been with JM Financial earlier and we are delighted to have him back. JM Financial has always been driven by excellence in execution and innovation and with Ranganath’s experience and expertise we will endeavour to further strengthen our focus.”

Speaking on his joining JM Financial Group, Mr. Ranganath Char said, “JM Financial, with a proud history of innovation, outstanding talent and enviable client relationships, is fast growing into a financial powerhouse. The Group is extremely focused on the financial services business. It's a great honour to join its leadership team and have the opportunity to build on its success. I hope to take the Group’s success to a new high.”

JM Financial is an integrated financial services group offering a wide range of capital market services to its corporate and individual clients. The Group has business interests in investment banking, institutional equity sales and broking, private and corporate wealth management, research, equity broking, portfolio management, asset management, commodity broking, NBFC activities and private equity.