JioBlackRock gets Sebi nod to launch investment advisory services, joint venture eyes digital-first strategy; Marc Pilgrem to lead India operations
Jio BlackRock Asset Management, the 50:50 joint venture between Jio Financial Services and global investment giant BlackRock, has received regulatory approvals to commence its investment advisory operations in India, the company announced on Wednesday.The Securities and Exchange Board of India (Sebi) and BSE Ltd have granted approval for JioBlackRock to operate as a Registered Investment Adviser (RIA), marking the next phase of the joint venture’s expansion into India’s fast-evolving wealth management space, ANI reported.The regulatory clearance comes just weeks after Sebi approved the JV to begin operations as an investment manager for its mutual fund business on May 27, 2025.JioBlackRock said the RIA operations will focus on building a digital-first investment advisory platform tailored to the changing expectations of Indian investors. “Further details about the company’s innovative and customer-centric offering will be announced closer to launch,” the company added in a statement.Hitesh Sethia, Managing Director and CEO of Jio Financial Services, said the venture aims to transform the investing landscape. “As Indian investors increasingly seek personalised, 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,” he said.Rob Goldstein, Chief Operating Officer of BlackRock, said the new platform will combine global investment capability with local reach. “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 of our partner Jio Financial Services,” Goldstein said.He added that this partnership aims to provide “world-class, personalised investment advice,” particularly for long-term financial goals such as retirement, by leveraging technology and scale.The company also announced the appointment of Marc Pilgrem as the Managing Director and CEO of the advisory arm. Pilgrem previously headed Specialist Clients and Investment Trusts for Europe, the Middle East and Africa at BlackRock, and also served as COO and Head of Business Strategy for iShares EMEA.According to the company, his experience in strategic planning, operational execution, and client engagement will guide JioBlackRock’s push into India’s growing advisory segment.
