George Heber Joseph Appointed CIO of Jio BlackRock Asset Management

The newly formed joint venture, Jio BlackRock Asset Management Company, has appointed George Heber Joseph as its first Chief Investment Officer (CIO). 

Joseph, who has been with Jio Financial Services (JFS) since March 2022 as Head of Special Projects, announced his new role on LinkedIn, expressing enthusiasm for his position. 

Prior to joining JFS, Joseph was the CIO at ITI Mutual Fund for over three years and served as a senior fund manager with ICICI Prudential Mutual Fund for more than a decade, showcasing a wealth of experience in asset management.

The joint venture between Reliance’s Jio Financial Services and global asset management giant BlackRock was announced earlier this year, marking a significant step toward launching wealth management and brokerage services in India. 

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The firm has also received in-principle approval from the Securities and Exchange Board of India (SEBI) to establish a mutual fund business. Joseph’s appointment marks one of the first key leadership positions filled within the organization although the CEO position remains unannounced.

This development comes as Jio Financial Services and BlackRock reportedly explore private credit ventures, aligning with JFS’s broader ambitions to disrupt India’s fintech ecosystem. 

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JFS aims to leverage advanced technology and Reliance Jio's extensive customer network to innovate across domains such as digital lending, banking, insurance, broking and asset management.

On the financial side, JFS reported a net profit of ₹313 crore in Q1 FY25, a slight decline from ₹332 crore in the same quarter the previous year. Operating revenue saw marginal growth rising to Rs 418 crore from Rs 414 crore in Q1 FY24 reflecting steady financial performance amid its expansion into new ventures. 

This strategic partnership positions Jio BlackRock Asset Management to play a significant role in reshaping India’s wealth management landscape.

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