Jio BlackRock Names George Heber Joseph As Its Chief Investment Officer

SUMMARY

Joseph has been associated with Jio Financial Services since March last year as head of special projects

Prior to this, he served at ITI Mutual Fund as the chief investment officer for over three years. Earlier he served as the senior fund manager for over a decade with ICICI Prudential MF

BlackRock is a global asset manager and technology provider dedicated to helping people with financial understanding

The newly incorporated joint venture firm Jio BlackRock Asset Management Company has named company insider George Heber Joseph as its first chief investment officer.

According to his LinkedIn profile, Joseph has been associated with Jio Financial Services since March last year as head of special projects.

“I am happy to share that I am starting a new position as chief investment officer at Jio BlackRock Asset Management Company Private Limited!,” Joseph said on his LinkedIn post.

Prior to this, he served at ITI Mutual Fund as the chief investment officer for over three years. Earlier he served as the senior fund manager for over a decade with ICICI Prudential MF.

BlackRock is a global asset manager and technology provider dedicated to helping people with financial understanding.

In April, Reliance’s Jio Financial Services (JFS) signed a joint venture (JV) with investment giant BlackRock to float its wealth management and brokerage ventures.

Joseph’s appointment is among the first in the key positions of the AMC. The company is yet to announce a chief executive officer.

This development comes months after BlackRock, was reportedly in discussions with Jio Financial Services (JFS) to establish a private credit venture.

Interestingly in the same month, Jio Financial Services and BlackRock received in-principle approval from the Securities and Exchange Board of India (SEBI) to set up their proposed mutual fund business.

From digital lending, banking and insurance to broking and asset management, JFS aims to disrupt the fintech sector in the country by leveraging technology and Jio’s wide customer base.

On the financial front, JFS’ net profit declined 5.7% to INR 313 Cr in Q1 FY25 from INR 332 Cr in the year-ago quarter. Operating revenue rose slightly to INR 418 Cr from INR 414 Cr in Q1 FY24.