Mr. Ashu Madan appointed as Co-Head - Business Affiliate Group and Managing Director at JM Financial Services

Mumbai, September 25, 2019 : JM Financial Services Ltd. the dedicated financial services arm of the JM Financial Group, counted amongst the most respectable names in capital markets has announced the appointment of Mr. Ashu Madan as Co-Head - Business Affiliate Group and Managing Director. Ashu brings with him more than 29 years of senior management experience including strategic development and execution in capital markets.

The appointment of Ashu is in line with the Company’s plan to further strengthen its retail network in the region and to expand its customer base in India. Leveraging his extensive business development experience, capital market proficiency and go to market expertise, Ashu will lead the India wide expansion of JM Financial Services in the already successful franchisee business. He will also focus on fueling new client acquisition strategy. JM Financial Services now has a presence in 340 plus locations across the country. 

Commenting on the appointment, Mr. Subodh Shinkar, the CEO and Managing Director of JM Financial Services said “Ashu understands the equity based business, sales, risk management, client satisfaction, in a way that few executives do and he has got a proven track record of maximizing the growth potential of a range of businesses, He is joining an already successful, energetic team at the right time to spearhead client and Franchisee expansion”

Mr. Ashu Madan said, “I am excited having joined the JM Financial Services team”. I believe that the greatest brands are those that find a way to deliver value to clients apart from offering great products in a large market. JM Financial Group while being rooted in its value system, has a great business model, extensive product range and a talented management team that uniquely positions the company to capitalize on the evolving capital markets landscape. It is poised to even greater success and I am looking forward to take the business to the next level.”

Ashu comes with over 29 years of experience in the financial services sector. Prior to joining JM Financial Services, he was associated with Religare Securities for over 18 years where he was responsible for leading equity broking business, while developing new products and strategies to drive the business. He has also served as AVP at the Gadgil Western group managing Retail Distribution & sales in both strategic and operational roles.





About JM Financial Services

JM Financial Services Limited is one of India’s finest brokerage firm offering broking and comprehensive investment management services to institutions, banks, corporates, high net-worth individuals and retail clients. For more information, log on to


About JM Financial

JM Financial is an integrated and diversified financial services group. The Group’s primary businesses include (a) Investment banking, wealth management and securities (IWS) which includes fee and fund based activities for its clients (b) Mortgage Lending which includes both wholesale mortgage lending and retail mortgage lending (home loans, education institutions lending and LAP) (c) Distressed credit which includes the Asset Reconstruction business (d) Asset Management includes the mutual fund business.


The Group is headquartered in Mumbai and has a presence across 330 locations spread across 120 cities in India. The equity shares of JM Financial Limited are listed in India on the BSE and NSE.


For more information, log on to or contact

Ms. Arzoo Zehra             

Ms. Manali Pilankar                 Manali.pilankar@jmfl.comv