JM financial: Banking on relationships

Abstract

The purpose of the study is to analyse the evolution of JM Financial Ltd (henceforth “JMF”) in the investment banking industry in India. To do that we looked at the history of JM financial and identified major events. We also analysed the activities and organization structure of JMF. We then tried to understand the reason for these activities and organization structure and why the company made certain choices in its evolution. So the events, activities and organizational structure were looked at from a theoretical perspective. We understand the key role of investment bankers, who have access to relationships and tacit knowledge, for the success of an organization in the investment banking industry. These boundary spanners play an important role of information processing and external representation for the company. They enable the organization to adapt to its external environment. Thus, investment bankers play an important role in the company. The results from this study can be used to explain the structure of the investment banking industry and other human-capital-intensive industries.