Paytm Cash, that bills itself as India’s biggest online investment and wealth management system, announced Wednesday (July 29) it’s named Varun Sridhar as its new chief executive.
The veteran FinTech executive is going to be in control of the launching and development of firm’s equity broker arm also will report directly to Paytm Money President Amit Nayyar.
Sridhar has experienced a long history in the payments sector, having helped direct “the digital transformation journey of some of the top retail banks in India and abroad,” Paytm mentioned in its statement of the consultation on its own blog.
In his final article, Sridhar launched realme PaySa, a FinTech platform on cellular, as CEO of FinShell India. Before that, he worked at BNP Paribas for almost eight decades, helping with all the firm’s purchase of Sharekhan. As a board member and executive committee member in the company, Sridhar also helped drive “the scale-up of the digital equity brokerage & mutual fund business.”
Nayyar, Paytm’s president, noted that the firm’s new CEO is expected to play a significant part in the company’s growth plans. According to Bengaluru, Paytm has over 300 workers and 6 million consumers on its stage, together with plans to invest Rs 250 crores within the following 12 to 18 weeks to establish an equity broker and other new companies.
“Paytm Money is on a mission to empower millions of Indians with wealth management products,” stated Nayyar from the statement. “We are very excited to welcome Varun, whose experience in retail banking, broking, and wealth segment would help us accelerate our goals. I look forward to working closely with him to expand Paytm Money further.”
Paytm also announced it has hired Amit Kapoor as its new CFO and vice president, together with Kapoor formerly serving as CFO of Aviva India, a life insurance carrier.
“I am thrilled to be part of the team that is responsible for introducing wealth management services to consumers in both India and Bharat and making meaningful financial inclusion simple & easy,” Sridhar said in a statement.