JioBlackRock CEO Marc Pilgrem to exit, Swapnil Bhaskar to take charge

Marc Pilgrem, managing director and chief executive of JioBlackRock Investment Advisers, will step down and return to BlackRock for a new leadership role, marking a transition at the nascent digital wealth management joint venture between Jio Financial Services and BlackRock.

Pilgrem, who led the initial build-out of the India-focused advisory platform, said the move follows the operationalisation of two businesses under the venture and the rollout of its retail-focused wealth management offering.

Swapnil Bhaskar will succeed Pilgrem as managing director and chief executive and is expected to lead the next phase of growth as the platform scales its digital investment advisory services across India.

In a LinkedIn post, Bhaskar said he is joining at a “pivotal moment” as more Indians transition from saving to investing and seek accessible, technology-led advisory solutions.

In a separate post, Pilgrem said, “Launching this business together will be one of the accomplishments I’m most proud of in my career,” adding that he will return to London to work on international strategic projects at BlackRock, including the India joint venture.

He added that under Bhaskar’s leadership, the firm is well positioned to scale further and expand its reach.

The leadership change comes as global asset managers deepen their India presence, betting on the financialisation of household savings and the growing adoption of digital investment platforms.