JioBlackRock appoints Nikhil Dhoka as CEO of broking venture

Nikhil Dhoka has been appointed Chief Executive Officer of JioBlackRock Broking, the joint venture between Jio Financial Services and BlackRock. Dhoka, formerly a senior executive at Kotak Neo, assumed the role in September 2026. His leadership is expected to focus on expanding the company’s digital brokerage platform and increasing accessibility to financial markets in India.

The appointment follows SEBI approval for JioBlackRock Broking to operate as a stockbroker and clearing member in June 2025. The venture aims to leverage Jio’s digital infrastructure alongside BlackRock’s global investment expertise to target India’s growing retail investment market.

In the broader mutual fund sector, JioBlackRock has seen a 261% increase in folios, significantly outpacing the industry average growth of 16.16%. While established players like HDFC Mutual Fund and ICICI Prudential continue to lead in absolute folio additions and net equity inflows, the rapid percentage growth of newer entrants like JioBlackRock highlights a shifting competitive landscape in India’s asset management industry.