NE BUSINESS BUREAU
MUMBAI, JUNE 28
JioBlackRock Broking is set to soon begin its operations as a brokerage firm in India after the unit of Jio BlackRock Investment Advisers Pvt Ltd received the regulatory nod from the Securities and Exchange Board of India (Sebi), it announced.
JioBlackRock Investment Advisers Pvt Ltd is an equal part joint venture between Ambani-led Jio Financial Services Ltd (JFSL) and US investment management firm, BlackRock Inc.
Recently, both JioBlackRock Asset Management Pvt Ltd and JioBlackRock Investment Advisers clinched the Sebi approvals in their respective fields. The latest approval adds to the ever-growing offerings from the JV.
“With JioBlackRock Investment Advisers, we will be able to offer personalised advice to retail investors. Now with brokerage, we will also bring an execution platform for self-directed investors,” JioBlackRock Investment Advisers MD and CEO Marc Pilgrem said.
Hitesh Sethia, Managing Director and CEO, Jio Financial Services Limited said: “These are exciting times for us. Even as JioBlackRock’s Asset Management arm introduces innovative mutual funds to the market, and JioBlackRock Investment Advisers prepares to launch operations, the approval for the broking entity adds another dimension to our strategy of democratising investments in India, through easily accessible and digital-first solutions.”
Rachel Lord, Head of International at BlackRock, said: “JioBlackRock was founded to provide techenabled access to capital markets, and affordable, innovative investment solutions, to millions of investors in India. This third approval from SEBI completes the range of offerings of our joint venture. Through these three entities, JioBlackRock will provide a full suite of investment services, enabling Indian investors to work towards their financial goals.”
