Jio Financial Services Ltd (JFSL) on Wednesday announced that its 50:50 joint venture (JV) with BlackRock, Jio BlackRock Investment Advisers Pvt Ltd has secured a certificate of registration from Securities and Exchange Board of India (SEBI) to act as an investment adviser.
In a regulatory filing, the company said, “…the Securities and Exchange Board of India, vide letter dated June 10, 2025, has granted certificate of registration to Jio BlackRock Investment Advisers Private Limited (“JBIAPL”) to act as an Investment Adviser. The Company has received an intimation from JBIAPL on June 10, 2025 at 3.12 p.m. (IST).”
Jio BlackRock Investment Advisers stated that it will now focus on building a digital-first product which is designed to meet the “evolving needs of today’s investors“.
Hitesh Sethia, Managing Director and CEO of Jio Financial Services, said, “As Indian investors increasingly seek personalized, insight-driven financial solutions, this joint venture is poised to democratize access to world-class advisory services. We are confident that JioBlackRock will redefine the future of wealth creation in India by empowering investors with global expertise and local relevance.”
Rob Goldstein, Chief Operating Officer of BlackRock, said, “India is one of the fastest growing and most dynamic investment markets in the world. JioBlackRock Investment Advisers will benefit from the power of BlackRock’s global investment expertise and market-leading technology, combined with the local market knowledge and digital innovation and reach of our partner Jio Financial Services.
Appointment of CEO & MD
Besides the approval from SEBI, the company also announced the appointment of Marc Pilgrem as its Chief Executive Officer (CEO) and MD. Pilgrem has over 25 years of experience in global financial services. “I’m excited and honoured to lead JioBlackRock Investment Advisers’ work to make high-quality investment advice more accessible and affordable through a digital-first approach. We’re building a service that reflects the needs of today’s investors in India– simple, transparent, and grounded in expertise,” he said.
Website launch
Earlier on Monday, Jio BlackRock Asset Management had announced the appointment of its executive leadership team to drive operations. The company had also launched its official website and early access programme, allowing users to explore educational content on investing and preview upcoming digital-first offerings.