11:15 AM EDT, 04/15/2024 (MT Newswires) -- BlackRock ( BLK ) and Reliance Group's Jio Financial Services entered into a new joint venture to run a wealth management and broking business in India, Reuters reported Monday.

The new joint venture, which was set up less than a year after the companies launched their asset management business, will incorporate a wealth management firm followed by a brokerage company, according to the report.

Neither BlackRock ( BLK ) nor Jio Financial Services immediately responded to MT Newswires' requests for comment.

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