New Delhi [India], June 11 (ANI): Jio BlackRock Asset Management Private Limited (JioBlackRock Asset Management), a 50:50 joint venture between Jio Financial Services Limited and BlackRock, on Wednesday has received regulatory approval from the Securities and Exchange Board of India (SEBI) and BSE Limited to begin operations as an Investment Adviser in India.

'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,' said Hitesh Sethia, Managing Director and CEO, Jio Financial Services Limited.

This latest announcement follows the regulatory approval from SEBI for Jio BlackRock Asset Management Private Limited to commence operations as an investment manager for its mutual fund business in India on May 27, 2025.

'With this license, JioBlackRock Investment Advisers will now focus on developing a digital-first product designed to meet the evolving needs of today's investors. Further details about the company's innovative and customer-centric offering will be announced closer to launch,' the company said.

'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,' said Rob Goldstein, Chief Operating Officer, BlackRock.

Adding, 'the strength of this unique combination will enable us to provide world-class, personalised investment advice, as we work to help millions of people in India to achieve better financial futures, including long-term goals like retirement.'

Furthermore, the company has also appointed Marc Pilgrem as its Managing Director (MD) and Chief Executive Officer (CEO) of the new Registered Investment Adviser.

Marc Pilgrem previously served as the Head of Specialist Clients and Investment Trusts for Europe, the Middle East and Africa at BlackRock, where he led initiatives to enhance client engagement and expand BlackRock's investment trust offerings across the region.

He was also Chief Operating Officer and Head of Business Strategy for iShares EMEA, overseeing strategic planning and operational execution for BlackRock's exchange-traded fund business. (ANI)