“Expanding India’s Wealth Management and Stock Broking Market: Jio Financial and BlackRock Join Forces”
Jio Financial and BlackRock to tap India’s wealth management and stock broking marketJio Financial Services, part of the Indian conglomerate Reliance, is forming a joint venture with U.S. asset manager BlackRock to set up a wealth management and stock broking business in India, the two firms said Monday.
The announcement follows BlackRock and Jio Financial launching a joint venture last year to offer asset management services in India.
The two companies plan to invest $150 million each in the joint venture, they said last year.
The expansion of BlackRock and Jio Financial’s partnership underscores Reliance’s growing ambitions in the financial services sector.
Since its public debut in August, Jio Financial Services has already expanded to insurance and lending businesses.
