Paytm Money appoints Varun Sridhar as its new CEO

Paytm Money appoints Varun Sridhar as its new Chief Executive Officer

Paytm Money, the subsidiary of One97 Communications Ltd has appointed Varun Sridhar as its new Chief Executive Officer. In his new role at Paytm Money, Sridhar will lead the launch and development of equity brokerage services for the firm, and grow existing products around mutual funds, national pension system and gold services.

Sridhar will be reporting to Amit Nayyar, President at Paytm, who joined the company in August last year, to lead Paytm’s financial services business, the company said in a statement.

Paytm founder and CEO Vijay Shekhar Sharma had last week said that the company will start stockbroking business in the next “three-four week”.

Paytm Money also announced that Amit Kapoor, who was formerly the chief financial officer of Aviva India, has joined as the new CFO & vice-president of the company.

“We are very excited to welcome Varun, whose experience in retail banking, broking, and wealth segment would help us accelerate our goals,” said Amit Nayyar, president, Paytm. “I look forward to working closely with him to expand Paytm Money further.”

“At Paytm Money, I hope to build along with a fantastic team the most cost-effective & consumer friendly products & experience for investors & traders,” said Sridhar. “The wealth management and financial service solutions.”

Sridhar has most recently served as CEO of FinShell India, which is a part of a Chinese mobile electronics company, OPPO, where he helped launch realme PaySa a mobile fintech platform.

Prior to this, Sridhar was with BNP Paribas for close to eight years where among other assignments, he helped in the acquisition of Sharekhan.

Bengaluru-based Paytm Money has a team of 300 employees and a user base of over six million on its platform. Paytm Money is the 4th consumer brand from One97 Communications Limited, It is a SEBI registered Investment Adviser (IA) that offers investment execution & advisory services. Paytm Money offers direct plans of mutual fund investment schemes.