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Jio Financial, BlackRock to tap India’s wealth management market
Jio Financial Services, part of the Indian conglomerate Reliance, is forming a joint venture with U.S. asset manager BlackRock to set up a wealth Reliance's Jio Financial is forming a joint venture with BlackRock to set up a wealth management and stock broking business in India.
Jio 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 the 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.
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