- Widens management staff to work immediately with Paytm CEO and senior administration for the subsequent part of development. Strengthens succession planning by empowering next-generation leaders
- Bhavesh Gupta transitions to an advisory position, providing steering for Paytm’s development initiatives
- Varun Sridhar transitions to Chief Executive Officer of Paytm Services Private Limited, specializing in the distribution of mutual funds and wealth administration merchandise
- Appoints Rakesh Singh as the brand new Chief Executive Officer of Paytm Money
One97 Communications Limited (OCL) that owns the model Paytm is increasing its management staff to construct a big and worthwhile fee and monetary companies distribution enterprise. This transfer is aligned with its ambition to make sure Paytm’s sustained development throughout key enterprise verticals, fostering innovation and strengthening its group construction for sustainability and regulatory compliance.
Paytm’s fee and credit score companies are led by Chief Operating Officers and Chief Business Officers, every with over 5 years of expertise at Paytm and 20-26 years of complete work expertise in related industries. This seasoned management staff will now work immediately with Paytm’s CEO and different senior administration. The Company has been specializing in strengthening the roles of its subsequent line of leaders and strong succession planning.
Bhavesh Gupta, President and Chief Operating Officer, who was overseeing the funds and lending companies, has determined to take a profession break resulting from private causes. He will probably be transitioning to an advisory position, providing steering for Paytm’s development initiatives till the top of the yr. The management will concentrate on worthwhile enterprise growth and is dedicated to regulatory compliance.
Expanding precedence to wealth administration merchandise
The firm has additionally undertaken management transitions inside its wealth subsidiary the place Rakesh Singh has lately been appointed as the brand new Chief Executive Officer of Paytm Money Ltd (PML). With over 20 years of expertise, Rakesh Singh was beforehand the CEO of the inventory broking enterprise at Fisdom, and has held key administration positions with ICICI Securities and Standard Chartered Bank.
OCL has expanded its portfolio with Paytm Services Pvt Ltd (PSPL), a subsidiary devoted to distributing mutual funds, and different wealth administration merchandise. Varun Sridhar, former head of Paytm Money Ltd, now leads as CEO at PSPL, marking a transition to new management duties.
Vijay Shekhar Sharma, Founder & CEO – Paytm stated, “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 penetration of mutual fund and wealth management products in our country. I welcome Rakesh to Paytm Wealth business where we are committed to build world class technology led wealth offerings to young Indians.”
Bhavesh Gupta stated, “I have decided to take a career break due to personal reasons. I look forward to supporting Paytm in an advisory role. I am confident of Paytm reaching new heights given the depth of leadership in payments and financial services that has been built over the past few years”
Rakesh Singh, CEO – Paytm Money stated, “Stepping into the role of CEO at Paytm Money Ltd is both an honor and a responsibility. As we aim to scale and position ourselves among the top brokers in India, our focus will be on ramping up acquisition and delivering stable, innovative products at a low cost transparent price. Focusing on growing an already profitable operation with full compliance to SEBI regulations will be a top priority. I am eager to build on the solid foundation laid by the team, and my focus will be on Paytm Money’s growth.”
The Company has reported motion to the TPAP mannequin for UPI Payments and is now working with Yes Bank, Axis Bank, State of India and HDFC Bank. For mortgage and bank card distribution, the corporate continues to work with NBFC and financial institution companions.
As this transition unfolds, Paytm stays dedicated to fostering development, profitability, and sustaining strong governance and compliance.
About Paytm: Paytm is India’s main cellular funds and monetary companies distribution firm. Pioneer of the cellular QR funds revolution in India, Paytm builds applied sciences that assist small companies with funds and commerce. Paytm’s mission is to serve half a billion Indians and convey them to the mainstream economic system with the assistance of know-how.
