Mukesh Ambani’s Jio Financial Services has chosen Hitesh Kumar Sethia as its new CEO and MD, following permission from the Union Ministry of Corporate Affairs.
According to DNA, Mukesh Ambani’s company was listed in August 2023 and has a market capitalization of INR 240,000 crore as of April 30.
Sethia’s appointment was effective from November 15, 2023. It is valid for three years, according to a regulatory filing by JFS.
Reliance Industries’ board of directors nominated Sethia as MD and CEO of Reliance Strategic Investments Limited (RSIL) in July last year. It has been called Jio Financial Services.
He has over 20 years of experience as a licensed chartered accountant (CA) and financial services executive.
Sethia is a Harvard alumnus who spent most of his career at ICICI Bank. He finished the Advanced Management Program at Harvard Business School Executive Education. Furthermore, he has worked in Europe, Asia (India and Greater China), and North America.