Jio BlackRock gets Sebi, BSE nod to start investment advisory in India, appoints Marc Pilgrem as CEO

After receiving regulatory approval to start operations as an investment manager for its mutual fund business on May 26, Jio BlackRock Investment Advisers Private Ltd, a 50:50 JV between Jio Financial Services and BlackRock Inc, has now received approvals from the Securities and Exchange Board of India (Sebi) and BSE Limited to operate as an investment adviser in India. It has also appointed Marc Pilgrem as its Managing Director (MD) and Chief Executive Officer (CEO).

With this licence, JioBlackRock Investment Advisers will focus on developing a digital-first product tailored to modern investor needs. More details will be announced closer to launch.

Hitesh Sethia, Managing Director and CEO, Jio Financial Services Limited said this marks a significant milestone in its partnership with BlackRock. “As Indian investors increasingly seek personalised, insight-driven financial solutions, this joint venture is poised to democratise access to world-class advisory services.”

India is one of the fastest-growing and most dynamic investment markets in the world, says Rob Goldstein, Chief Operating Officer, BlackRock. “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.

Marc Pilgrem brings over 25 years of experience. He previously led client engagement and investment trust offerings in EMEA for BlackRock and was COO and Head of Business Strategy for iShares EMEA. “We’re building a service that reflects the needs of today’s investors in India – simple, transparent, and grounded in expertise,” says Pilgrem.

Jio BlackRock Asset Management has also announced the appointment of its executive leadership team and the launch of its website, which includes an early access initiative for interested individuals.

Jio Financial Services reported a 2% year-on-year rise in Q4 FY25 profit to ₹316 crore, with full-year profit at ₹1,613 crore. Total income in Q4 stood at ₹518 crore, up 24% YoY. Its assets under management rose to ₹10,053 crore as of March 31, 2025, from ₹173 crore a year ago.