Jio BlackRock Gets Sebi Nod, Names New CEO

Jio BlackRock Investment Advisers Private Limited (JBIAPL), a 50:50 joint venture between Jio Financial Services and BlackRock, has received regulatory approval from Sebi to operate as an investment adviser in India, following earlier approval for launching its mutual fund business. The venture aims to provide digital-first, personalized investment advisory services to Indian investors, leveraging BlackRock’s global expertise and Jio’s digital infrastructure. Marc Pilgrem has been appointed CEO of the advisory arm, while the mutual fund business has assembled a strong executive team. Jio Financial Services has reported significant financial growth, including a sharp rise in assets under management and a share price increase of over 15% in the last month. Industry leaders from both companies highlight the partnership's goal to democratize access to high-quality financial products in India. The developments further strengthen Jio Financial's position in the country's financial sector.