Reliance said to tap McLaren's Hitesh Sethia as Jio Financial CEO

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, who asked not to be identified as the information is private.

Sethia joined McLaren as its head of Europe in June last year and has been based in Frankfurt, according to his LinkedIn profile. He will move back to India to take up the new position at Reliance, the people said.

A representative for Reliance declined to comment, while Sethia didn’t respond to a request for comment.  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 and has yet to provide a timeline for the IPO.