George Heber Joseph has been named the first Chief Investment Officer (CIO) of Jio BlackRock Asset Management Company (AMC), a newly formed joint venture. Joseph joined Jio Financial Services in March 2023 as Head of Special Projects, according to his LinkedIn profile. He shared the news of his appointment through a social media post.

Before joining Jio, Joseph served as the CEO and CIO of ITI Mutual Fund (MF) for three years until August 2022. He also spent over a decade as a fund manager with ICICI Prudential MF.

Joseph’s appointment is among the first major leadership roles filled at Jio BlackRock AMC. The company has not yet announced its Chief Executive Officer (CEO).

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The joint venture between Jio Financial Services and BlackRock, a leading US asset manager, is set to enter the mutual fund business. In October 2024, it received in-principle approval from the Securities and Exchange Board of India (SEBI) to start operations. Full approval, which requires fulfilling certain conditions such as appointing a CIO with relevant experience, typically takes six months to a year.

The AMC plans to offer products in both active and passive investment categories. It will compete in the ~₹68-trillion mutual fund industry, which currently has 46 players.

Jio Financial has invested approximately ₹82.9 crore for a 50 per cent stake in Jio BlackRock AMC and its trustee entity. These two entities were incorporated on October 28, 2024, to focus on mutual fund operations.

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