Jio Financial “will be a technology-led business, delivering financial products digitally by leveraging the nationwide Omni channel presence of Reliance’s consumer businesses,” said Mukesh Ambani in a statement last year while announcing the spinoff. It is “uniquely positioned” to capture opportunities and bring “millions of Indians into formal financial institutions.”
Reliance Industries has tapped a top executive from McLaren Strategic Ventures as chief executive officer for its newly created financial services unit that is preparing for a listing in India, according to people familiar with the matter. Hitesh Sethia is due to join Jio Financial Services as its CEO and managing director, said the people.
Sethia joined McLaren as its head of Europe in June last year and has been based in Frankfurt, according to his LinkedIn profile. The people said he will move back to India to take up the new position at Reliance. Sethia’s appointment comes as billionaire Mukesh Ambani seeks to list Jio Financial Services in India after spinning it off.
It appointed KV. Kamath as non-executive chairman in November has yet to provide a timeline for the IPO.
Jio Financial “will be a technology-led business, delivering financial products digitally by leveraging the nationwide Omni channel presence of Reliance’s consumer businesses,” said Mukesh Ambani in a statement last year while announcing the spinoff. It is “uniquely positioned” to capture opportunities and bring “millions of Indians into formal financial institutions.”
