Latest news with #HiteshSethia
Yahoo
19 hours ago
- Business
- Yahoo
Jio BlackRock gets nod to operate as investment adviser in India
Jio BlackRock Investment Advisers, the joint venture between Jio Financial Services and BlackRock, has obtained a certificate of registration from the Securities and Exchange Board of India (SEBI) to operate as an investment adviser. In a regulatory filing, the company announced, "Please note that the Securities and Exchange Board of India, vide letter dated 10 June 2025, has granted certificate of registration to Jio BlackRock Investment Advisers Private Limited ('JBIAPL') to act as an Investment Adviser." With the SEBI registration in place, Jio BlackRock Investment Advisers said it is poised to focus on creating digital-first products tailored to the "evolving needs of today's investors". Jio Financial Services managing director and CEO Hitesh Sethia 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.' Additionally, the firm has announced the appointment of Marc Pilgrem as its chief executive officer (CEO) and managing director (MD). Pilgrem brings over two decades of experience in the global financial services industry to his new role at Jio BlackRock Investment Advisers. The announcement follows the recent unveiling of the executive leadership team at Jio BlackRock Asset Management, tasked with steering the company's operations. Furthermore, Jio BlackRock Investment Advisers has launched its official website and an early access programme. This initiative offers users the opportunity to engage with educational content on investing and to preview the upcoming digital-first offerings that the company plans to introduce. "Jio BlackRock gets nod to operate as investment adviser in India" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Economic Times
a day ago
- Business
- Economic Times
Jio Financial Services shares in focus after JV with BlackRock gets Sebi nod to start advisory business
Shares of Jio Financial Services are set to be in focus on Thursday, after its joint venture with BlackRock secured regulatory approval to begin operating as an investment adviser in India. ADVERTISEMENT Jio BlackRock Investment Advisers Pvt Ltd, the 50:50 joint venture between Jio Financial Services (JFSL) and BlackRock Inc., has received a certificate of registration from the Securities and Exchange Board of India (SEBI) to act as an investment adviser. The approval, dated June 10, was disclosed by JFSL in a regulatory filing to the stock exchanges on Wednesday. This marks a significant milestone for JioBlackRock, which had earlier secured Sebi approval in May to manage mutual funds through its asset management company (AMC). The JV has also received approval from the BSE to operate as an investment adviser. With the new license in place, the company is now preparing to offer digital-first, insight-driven investment advisory services tailored to India's evolving investor base. It plans to share more details about its offerings closer to launch."We are pleased to announce that JioBlackRock Investment Advisers has received regulatory approval, marking a significant milestone in our partnership with BlackRock,' said Hitesh Sethia, Managing Director and CEO of Jio Financial Services. 'As Indian investors increasingly seek personalised, insight-driven financial solutions, this joint venture is poised to democratize access to world-class advisory services."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 technology, combined with Jio's local market knowledge and digital innovation." ADVERTISEMENT JioBlackRock Investment Advisers has also announced the appointment of Marc Pilgrem as its Managing Director and CEO. Pilgrem, a veteran with over 25 years of experience, previously served in leadership roles at BlackRock, including Head of Specialist Clients and Investment Trusts for EMEA, and COO for iShares EMEA. ADVERTISEMENT Shares of Jio Financial Services have delivered a mixed performance over the past year. The stock is down 13.4% over the last 12 months and has dropped nearly 12% in the past six months. However, recent momentum has been strong, with the stock rising 39% in the past three months and gaining 22% in the last a technical perspective, the stock is trading above all its key simple moving averages — the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day SMAs — indicating strong bullish undertones across short to long-term timeframes. ADVERTISEMENT Also read | GIFT Nifty down 30 points; here's the trading setup for today's session The Relative Strength Index (RSI) stands at 74.1, which suggests the stock may be overbought and could be prone to a pullback. Meanwhile, the Moving Average Convergence Divergence (MACD) is at 11.1 and remains above both the centre and signal lines, reinforcing the bullish trend. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
a day ago
- Business
- Time of India
Jio Financial Services shares in focus after JV with BlackRock gets Sebi nod to start advisory business
Live Events Market Performance and technical indicators (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shares of Jio Financial Services are set to be in focus on Thursday, after its joint venture with BlackRock secured regulatory approval to begin operating as an investment adviser in BlackRock Investment Advisers Pvt Ltd, the 50:50 joint venture between Jio Financial Services (JFSL) and BlackRock Inc., has received a certificate of registration from the Securities and Exchange Board of India (SEBI) to act as an investment adviser. The approval, dated June 10, was disclosed by JFSL in a regulatory filing to the stock exchanges on marks a significant milestone for JioBlackRock, which had earlier secured Sebi approval in May to manage mutual funds through its asset management company (AMC). The JV has also received approval from the BSE to operate as an investment the new license in place, the company is now preparing to offer digital-first, insight-driven investment advisory services tailored to India's evolving investor base. It plans to share more details about its offerings closer to launch."We are pleased to announce that JioBlackRock Investment Advisers has received regulatory approval, marking a significant milestone in our partnership with BlackRock,' said Hitesh Sethia, Managing Director and CEO of Jio Financial Services. 'As Indian investors increasingly seek personalised, insight-driven financial solutions, this joint venture is poised to democratize access to world-class advisory services."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 technology, combined with Jio's local market knowledge and digital innovation."JioBlackRock Investment Advisers has also announced the appointment of Marc Pilgrem as its Managing Director and CEO. Pilgrem, a veteran with over 25 years of experience, previously served in leadership roles at BlackRock, including Head of Specialist Clients and Investment Trusts for EMEA, and COO for iShares of Jio Financial Services have delivered a mixed performance over the past year. The stock is down 13.4% over the last 12 months and has dropped nearly 12% in the past six months. However, recent momentum has been strong, with the stock rising 39% in the past three months and gaining 22% in the last a technical perspective, the stock is trading above all its key simple moving averages — the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day SMAs — indicating strong bullish undertones across short to long-term Relative Strength Index (RSI) stands at 74.1, which suggests the stock may be overbought and could be prone to a pullback. Meanwhile, the Moving Average Convergence Divergence (MACD) is at 11.1 and remains above both the centre and signal lines, reinforcing the bullish trend.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
2 days ago
- Business
- Time of India
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. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo '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. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
India Gazette
2 days ago
- Business
- India Gazette
Jio BlackRock Asset Management gains regulatory approval to launch advisory business
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)
