Varun Sridhar appointed as Paytm Money CEO
Bengaluru headquartered Paytm money has made a change in its management with the announcement of Varun Sridhar, as the new chief executive officer. Sridhar will take the responsibility of launching and developing equity brokerage other than handling the lucrative segment of the business that is mutual funds, NPS, and Gold services. The company targets to bring before millions of its customers, simple and innovative wealth management products. Amit Nayyar, President at Paytm will be reported by him.
Varun has worked with some of the top retail banks in India and abroad and has contributed to their digital transformation journey. His recent engagements were as a CEO of FinShell India where he launched realme PaySa a fintech platform that can be operated through mobile. Earlier to that he was engaged with BNP Paribas for a period of approximately eight years where he helped in the acquisition of Sharekhan. As a member of the board in the executive committee, he worked towards the growth of digital equity brokerage & mutual fund business. Talking about his educational background he got his MBA degree from the prestigious SDA Bocconi School of Management, Milan Italy, and graduated from the University of Delhi.
Amit Nayyar, president at Paytm said, “Paytm Money is on a mission to empower millions of Indians with wealth management products. 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.”
Varun Sridhar, CEO at Paytm Money said, “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. At Paytm Money, I hope to build along with a fantastic team the most cost-effective & consumer-friendly products & experience for investors & traders. The wealth management and financial service solutions that Paytm is building are transforming the lives of millions of Indians and are relevant globally as well.”
Paytm Money among its new appointments have also announced Amit Kapoor as the new CFO & Vice President for the company, before this, he was with Aviva India as CFO of the life insurance company.
The company has a team of over 300 employees and is India’s largest online investment & wealth management platform. It has over 6 million users on its platform who avail direct mutual funds & NPS.
With a plan to launch new businesses including equity brokerage in this financial year, Paytm Money aims to invest Rs 250 crores over the next 12-18 months.
