Paytm is expanding its leadership team to build a large and profitable payment and financial services distribution business.
Bhavesh Gupta, President and Chief Operating Officer, who was overseeing the payments and lending businesses, has decided to take a career break due to personal reasons.
He will be transitioning to an advisory role, offering guidance for Paytm’s growth initiatives until the end of the year. The leadership will focus on profitable business expansion and is committed to regulatory compliance.
- Widens leadership team to work directly with Paytm CEO and senior management for the next phase of growth. Strengthens succession planning by empowering next-generation leaders.
- Bhavesh Gupta transitions to an advisory role, offering guidance for Paytm’s growth initiatives.
- Varun Sridhar transitions to Chief Executive Officer of Paytm Services Private Limited, focusing on the distribution of mutual funds and wealth management products.
- Appoints Rakesh Singh as the new Chief Executive Officer of Paytm Money.
The company has also undertaken leadership transitions within its wealth subsidiary where Rakesh Singh has recently been appointed as the new Chief Executive Officer of Paytm Money Ltd (PML).
With over two decades of experience, Rakesh Singh was previously the CEO of the stock broking business at Fisdom and has held key management positions with ICICI Securities and Standard Chartered Bank.
OCL has expanded its portfolio with Paytm Services Pvt Ltd (PSPL), a subsidiary dedicated to distributing mutual funds, and other wealth management products.
Varun Sridhar, former head of Paytm Money Ltd, now leads as CEO at PSPL, marking a transition to new leadership responsibilities.
Vijay Shekhar Sharma, Founder & CEO – Paytm said, “I would like to thank Bhavesh for his contributions and his role in ensuring a smooth transition. Our focus on payments and lending is stronger than ever, and I will work with the seasoned leaders that we have in each of our businesses to execute our plans.”
“I am also excited about the direction that we have taken under the leadership of Varun to expand Paytm’s role in deepening the penetration of mutual fund and wealth management products in our country. I welcome Rakesh to Paytm Wealth business where we are committed to building world-class technology-led wealth offerings to young Indians”, Vijay added.
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