JioBlackRock receives Sebi nod, appoints Sid Swaminathan as MD and CEO

JioBlackRock Asset Management Private Limited, a 50:50 joint venture between Jio Financial Services Limited (JFSL) and global investment giant BlackRock, has secured regulatory approval from the Securities and Exchange Board of India (Sebi) to begin operations as an investment manager for mutual fund products in India.

The new asset management company aims to combine JFSL’s digital innovation and local market knowledge with BlackRock’s global investment expertise and advanced risk management technology. JioBlackRock plans to target India’s growing base of retail and institutional investors with competitive pricing, data-driven investment strategies, and a strong digital-first customer experience.

Building a digital-first investment platform

Isha Ambani, a non-executive director at JFSL, said, “India’s rapid growth is driven by a new generation with bold aspirations. Our partnership with BlackRock is a powerful combination of global investment expertise and Jio’s digital-first innovation.”

JioBlackRock Asset Management will leverage BlackRock’s Aladdin platform to enhance risk management and data integration, aiming to streamline and scale its investment process.

Rachel Lord, head of international at BlackRock, said, “The opportunity in asset management in India today is tremendously exciting. JioBlackRock’s digital-first customer proposition, delivering institutional quality products at a lower cost directly to investors, will enable more people in India to enjoy the many benefits of access to the capital markets.”

Sid Swaminathan appointed MD & CEO

The joint venture has appointed Sid Swaminathan as managing director and chief executive officer of JioBlackRock Asset Management. Swaminathan brings over two decades of global asset management experience, having previously led BlackRock’s International Index Equity division, managing assets worth $1.25 trillion. He also formerly headed Fixed Income Portfolio Management for Europe at BlackRock.

“JioBlackRock Asset Management aims to digitally deliver institutional quality investment products to investors across India and contribute to the growth of the country’s investment ecosystem,” said Swaminathan. “I am honoured to lead JioBlackRock Asset Management and help transform asset management in India by empowering investors to directly harness the potential of investing.”

JioBlackRock is expected to launch its suite of mutual fund offerings in the coming months, including products utilising advanced data-driven strategies.