Reliance Considering Head Hunters To Recruit Jio Insurance CEO

Reliance Industries is reportedly engaging with both international and domestic executive search firms to identify a leader for the newly established insurance division within Jio Financial Services Ltd., as revealed by individuals familiar with the situation.

Reliance representatives have held discussions with various firms in recent weeks to explore potential candidates specialising in life, health, and general insurance sectors. While preferring anonymity due to the confidential nature of these discussions, the sources shared that firms such as Korn Ferry and Spencer Stuart Inc. have been in dialogue with representatives from the diversified conglomerate, which spans petrochemicals and consumer sectors.

Jio Financial is actively pursuing the recruitment of a CEO for its insurance arm before the start of the upcoming year. Korn Ferry and Reliance declined to provide comments, and as of the time of this communication, Spencer Stuart had not responded to a comment request.

This quest for leadership falls in line with the ambitions of Mukesh Ambani, Chairman of Reliance, who recently stated that Jio Financial aims to revolutionise India's insurance landscape. The recent public listing of Jio Financial is part of Ambani's strategy to create a formidable non-banking finance entity that capitalises on Reliance's extensive digital and retail network.

K.V. Kamath, a respected banking veteran and non-executive chairman at Jio Financial, is reportedly overseeing the hiring process closely. The organisational framework for the insurance segment is currently being formulated, and the inaugural CEO will play a pivotal role in shaping its trajectory.

While a decision is impending, it has not been finalised yet. The CEO search is likely to be entrusted to a global search firm, while domestic headhunters could be involved in middle and mid-senior level recruitments, according to the sources.