Jio Financial Services (JFS) group chief operating officer (COO) Charanjit Attra has given his resignation from the company. A regulatory filing of JFS with the BSE reveals that this comes after his appointment as the MD and CEO of Jio Leasing Services, a subsidiary of JFS.
The company has stated that Attra tendered his resignation as group CEO (senior management personnel) with effect on July 8, 2024 with the close of business hours. The company further stated that he would take office in his new role as the MD and CEO of JFS on July 9.
Attra expressed his gratitude in the resignation letter for his experience throughout his tenure as Group Chief Operating Officer. “I am looking forward to contributing to our shared goals and vision in my new role” he added. Attra had also served as the chief financial officer (CFO) of State Bank of India (SBI) before joining JFS as COO in July 2023. His other former occupations include companies such as EY, Infotech and ICICI Securities.
Jio Leasing Services is set to rent out telecom equipment such as routers and cell phones, to customers of Reliance Jio Infocomm, Reliance’s telecom arm. This comes after the financial services giant recently sought shareholders’ approval to acquire equipment worth Rs 36,000 crore from sister firm Reliance Retail to strengthen in the device leasing business.
In May 2024, Jio Financial Services appointed Hitesh Kumar Sethia as its new MD and CEO for the next three years with an approval from the Ministry of Corporate Affairs (MCA).
The company signed a joint venture (JV) with BlackRock in April, to float wealth management and brokerage businesses. It also came up with the ‘JioFinance’ app in beta mode in May 2024 offering services such as digital banking, UPI transactions, bill settlements, and insurance advisory.
The Reliance-backed financial services major reported a 6% surge in its net profit to Rs 311 Cr in Q4 FY24 from Rs 294 crore in Q3 of the same fiscal year. Operating revenue slightly increased to Rs 418 crore from Rs 414 crore in the same QoQ basis.
