JioBlackRock Investment Advisers Receives SEBI, BSE Approval to Start Advisory Services

Jio BlackRock Investment Advisers Private Limited (JioBlackRock Investment Advisers), a 50:50 joint venture between Jio Financial Services Limited (JFSL) and BlackRock Inc. (BlackRock), has received regulatory approval from the Securities and Exchange Board of India (SEBI) and BSE Limited to commence operations as an Investment Adviser in India. 

This follows the announcement on May 26, 2025, of 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.

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.

Hitesh Sethia, Managing Director and CEO, Jio Financial Services Limited said: “We are pleased to announce that JioBlackRock Investment Advisers has received regulatory approval, marking a significant milestone in our partnership with BlackRock. 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, 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. 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.” 

JioBlackRock Investment Advisers is also pleased to announce the appointment of Marc Pilgrem as its Managing Director (MD) and Chief Executive Officer (CEO).

Marc brings over 25 years of global financial services experience to his new role. He 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. Prior to that, he was Chief Operating Officer and Head of Business Strategy for iShares EMEA, overseeing strategic planning and operational execution for BlackRock’s exchange-traded fund business. 

Marc will draw upon his extensive experience in wealth management, digital transformation and client engagement as JioBlackRock Investment Advisers aims to deliver innovative investment solutions to millions of investors in India.

Marc Pilgrem, Managing Director and CEO, Jio BlackRock Investment Advisers Private Limited said: “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.”