MAM
GroupM names Brian Lesser as CEO, North America
MUMBAI: WPP’s GroupM has appointed Brian Lesser as CEO for business in the US and Canada.
Lesser was previously Xaxis global CEO. He succeeds Kelly Clark, who will be transitioning to a new advisory role focused on strategic initiatives with clients and specialty businesses over the coming months.
With this, Brian Gleason will succeed Lesser as Xaxis global CEO.
In concert with these changes, GroupM global chief digital officer Rob Norman adds the position of chairman, North America to his responsibilities.
The new roles for the two executives reflect GroupM’s certainty that the future of media-driven marketing is inextricably tied to data and technology. Key investments and partnerships over the past several years that support this positioning include WPP’s investments in comScore and AppNexus; GroupM’s and Kantar Media’s partnership with Rentrak; more recent alliances with BuzzFeed and Networked Insights; introduction of the industry’s first data management platform and first programmatic audience platform; introduction of Modi Media, the first fully-formed advanced TV specialty business delivering addressable TV ads at scale; and numerous progressive positions on digital ad viewability and measurement that are focused on raising the bar for effectiveness and trading currency.
While driving advancement in North America, Lesser and Norman also each continue serving on GroupM’s global executive committee, led by GroupM global president Dominic Proctor and global chairman Irwin Gotlieb.
“Brian will be a huge part of our future and his appointment reflects our values and ambition, as well as WPP’s drive to achieve 40-45% of revenues from digital in five years. Our future is being built on tech, data, talent and scale. Brian absolutely gets that and is perfectly suited to help us shape that future to best serve advertisers. We’re very fortunate to have him leading our business in the world’s biggest market,” said Proctor.
“GroupM has continuously evolved with clients through major shifts in the media landscape and consumer behavior with data and technology having always been part of the value proposition. GroupM has challenged convention and forced dialogue on important issues to help clients be more successful. I’m humbled and grateful to have an opportunity to help continue this legacy at this time when complexity is more profound than ever,” added Lesser.
“This is an exciting time for our company. We have many successes to count and new marketplace challenges to conquer, but above all, we have the strength of our agency brands, our specialist enterprises and our increasing differentiation in the management and application of data that leave us exceptionally well-positioned for the future. I’m energized by the road ahead and excited to work with Brian and our colleagues on the executive committee for the next chapter,” said Norman.
Brands
Jio Financial Services posts Rs 1,560 crore FY26 profit
Revenue rises to Rs 3,513 crore as investments and lending scale up.
MUMBAI: If money makes the world go round, Jio Financial Services Limited is quietly spinning a much bigger wheel. The Reliance-backed financial arm reported a consolidated net profit of Rs 1,560.9 crore for FY26, slightly lower than Rs 1,612.6 crore in FY25, even as revenue growth gathered pace.
Total revenue from operations rose sharply to Rs 3,513.3 crore in FY26 from Rs 2,042.9 crore a year earlier, driven largely by a surge in interest income, which more than doubled to Rs 1,901.9 crore from Rs 852.5 crore. Fee and commission income also saw a significant jump to Rs 597 crore, compared to Rs 155.2 crore in FY25, reflecting expanding financial services activity.
For the March quarter, profit stood at Rs 272.2 crore, broadly flat compared to Rs 269 crore in the same period last year. Quarterly revenue from operations climbed to Rs 1,018.5 crore, up from Rs 493.2 crore year-on-year, signalling steady momentum in core income streams.
Expenses, however, moved in tandem with growth. Total costs nearly quadrupled to Rs 1,982.9 crore in FY26 from Rs 524.8 crore in FY25, with finance costs alone rising to Rs 745.1 crore from just Rs 7.7 crore a year earlier, reflecting increased borrowing and scale of operations. Employee expenses also grew to Rs 387.3 crore, while other expenses expanded to Rs 755 crore.
Profit before tax stood at Rs 1,911.7 crore for the year, slightly below Rs 1,946.9 crore in FY25. After accounting for a total tax outgo of Rs 350.8 crore, the company reported its final net profit figure.
Beyond the income statement, the balance sheet tells a story of rapid expansion. Total assets surged to Rs 1,63,497 crore as of March 31, 2026, up from Rs 1,33,510 crore a year earlier. Investments alone stood at Rs 1,33,088.7 crore, underscoring the company’s strong focus on treasury and financial asset growth.
However, the year also saw sharp volatility in other comprehensive income, which swung to a loss of Rs 16,028.3 crore, largely driven by fair value changes in equity instruments. This dragged total comprehensive income for FY26 to a negative Rs 15,756.1 crore, compared to a positive Rs 14,870 crore in FY25.
On the capital front, the company’s paid-up equity share capital remained steady at Rs 6,353.1 crore, with other equity rising to Rs 1,27,500.5 crore.
The numbers reflect a business in transition scaling rapidly across lending, investments and fee-based services, but also navigating the volatility that comes with mark-to-market movements in financial assets. In other words, while the top line is accelerating, the fine print still carries a few swings.
