The Union Ministry of Corporate Affairs has recently approved the appointment of Hitesh Kumar Sethia as the CEO and MD of Mukesh Ambani's Jio Financial Services (JFS). Listed in August 2023, the company has a market cap of Rs 240000 crore as of April 30. Sethia's appointment is effective from November 15, 2023, and is valid for three years, JFS said in a regulatory filing.

In July last year, the board of directors of Reliance Industries appointed Sethia as MD and CEO of its Reliance Strategic Investments Limited (RSIL), which has now been renamed Jio Financial Services.

He is a certified chartered accountant (CA) and financial services executive with over 20 years of experience. Sethia's career was mostly spent at ICICI Bank. he is a Harvard alumnus who completed an Advanced Management Program from Harvard Business School Executive Education. He has worked across Europe, Asia (India and Greater China) and North America. He has spent most of his career at ICICI Bank Limited handling leadership roles across various departments. In his last role at the ICICI Bank, he was head of transaction banking based in Mumbai.

Sethia is a fellow member of the Institute of Chartered Accountants of India (ICAI). He has extensive experience in strategy formulation, market development, compliance, risk management and team building across multiple countries. He has also been involved with setting up and scaling operations as a key member of the set-up team for ICICI Bank Limited, Canada, and as the first employee of ICICI Bank Limited in Germany. In 2022, Sethia joined McLaren Strategic Ventures as the company’s Head of Europe.

Source : DNA India