Vishal Kampani on Succession in Strategy: Lessons from Leading a Legacy Firm Into the Digital Decade

Succession is often viewed through the lens of inheritance, where control, power, or responsibility is passed down. But for Vishal Kampani, Vice Chairman and Managing Director of JM Financial, succession is not just about continuity. It’s about strategy. It’s about ensuring that a legacy firm doesn’t just survive a leadership transition, but thrives in the face of changing market dynamics, evolving investor behaviour, and digital disruption.

With JM Financial completing 50 years in the Indian financial ecosystem, Vishal Kampani’s leadership journey stands out as a case study in thoughtful succession. His long-term vision, emphasis on institutionalising leadership, and efforts to balance legacy with modernisation have helped the organisation stay resilient and relevant in a changing economic landscape.

Redefining Leadership: From Operational Control to Strategic Oversight

As the son of JM Financial's founder, Nimesh Kampani, Vishal was groomed for leadership early on. Unlike typical legacy transitions, Vishal focused on decentralisation, stepping back from day-to-day operations in investment banking and empowering the next generation of leaders within the firm.

This shift allowed the firm to prioritise long-term strategy, risk management, and group-level direction. As Vishal mentioned, succession isn’t about managing daily tasks but about identifying those who will set the company’s future direction.

His approach institutionalised leadership, giving newer leaders the autonomy to take charge while maintaining the broader vision, fostering a culture of ownership and accountability across business areas.

Embracing a Digital-First Approach

Leading a legacy firm into the digital decade meant letting go of dated methods and embracing technology as a growth enabler. Vishal Kampani recognised early on that the future of financial services wouldn’t be built on legacy systems but on data, automation, and client-centric digital platforms.

The firm began making strategic investments in tech infrastructure and talent. For instance, it hired technology leads who didn’t come from traditional finance backgrounds—people with experience in consumer internet businesses, lending fintechs, and data platforms. This move helped JM Financial shift its focus from volume-driven transactional growth to sustainable, tech-driven innovation.

Across lending, asset management, and capital markets, digital became a strategic lens through which every product and process was re-evaluated. Vishal’s leadership ensured that the firm didn’t just digitise processes but also reimagined the customer journey—whether it was onboarding a lending client or offering capital markets access to new-age startups.

Navigating Growth, Regulation, and Market Cycles

Vishal Kampani’s leadership was marked by a clear focus on navigating regulatory challenges. When the RBI raised concerns about certain business practices, JM Financial made the strategic decision to exit or pause products, prioritising compliance over short-term gains. This underscored the importance of legacy firms maintaining high standards.

Simultaneously, JM Financial expanded its capital markets business, leveraging strong client relationships and institutional knowledge. The firm, traditionally focused on late-stage funding and IPOs, is now exploring earlier-stage partnerships to stay relevant in the startup-driven economy.

As India moves from a savings-led economy to a yield-focused financial culture, Vishal Kampani believes that capital markets will play a defining role. JM Financial’s evolution under his leadership reflects this shift. From building strong wealth and asset management businesses to promoting financial literacy through partnerships and platforms, the firm is positioning itself at the intersection of innovation, trust, and long-term value creation.

Vishal Kampani’s approach to succession provides a forward-thinking model for legacy firms: decentralise leadership, embrace technology, uphold regulatory integrity, and create a foundation for future generations of investors. His journey at JM Financial is a powerful lesson in strategic evolution and adapting to the future.