Jio Financial, Blackrock from JV for wealth management, broking business
Jio Financial, Blackrock from JV for wealth management, broking business
- Country:
- India
Jio Financial on Monday announced a 50:50 joint venture with BlackRock for setting up a wealth management and broking business, the company said in a statement.
''The Company, BlackRock, Inc and BlackRock Advisors Singapore Pte Ltd today ... have signed an agreement to form a 50:50 joint venture between the Company and Blackrock, for the purpose of undertaking wealth business including incorporation of a wealth management company and subsequent incorporation of a brokerage company in India,'' Jio Financial said in an exchange filing.
The RIL group firm said that the joint venture further strengthens its relationship with Blackrock, Inc.
Earlier, Jio Financial Services announced a 50:50 joint venture on July 26, 2023, to transform India's asset management industry through a digital-first offering and democratise access to investment solutions for investors in India.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
ALSO READ
''India firmly in the Modi era: Sadanand Dhume''
Election results to prove PM Modi's acceptance in South India: BJP's Puducherry unit chief Selvaganabathy
We 'encourage' India, Pakistan to avoid escalation: US responds to PM Modi's remarks on killing terrorists
India to remain global growth driver in foreseeable future: IMF Executive Director
India's tariff removal on several US products benefiting farmers: Katherine Tai