Online investment and wealth management platform Paytm Money has announced the appointment of Varun Sridhar as the new Chief Executive Officer of Paytm Money. Sridhar will lead the launch and development of the equity brokerage other than growing the already successful mutual funds, NPS and Gold services. Under his leadership, the company will continue to simplify, innovate and bring wealth management products to millions of Indians. He will be reporting to Amit Nayyar, President at Paytm.
Sridhar has led the digital transformation journey of some of the top retail banks in India and abroad. Most recently he served as CEO of FinShell India where he launched realme PaySa, a fintech platform on mobile. Prior to this role, he was with BNP Paribas for close to eight years where among other assignments he supported the acquisition of Sharekhan. As a board member and member of the executive committee, he supported the scale-up of the digital equity brokerage and mutual fund business. He did his MBA from the prestigious SDA Bocconi School of Management, Milan, Italy, and graduated from University of Delhi.
Nayyar said, â€œPaytm 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."
Sridhar 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 and easy. At Paytm Money, I hope to build along with a fantastic team the most cost-effective and consumer-friendly products and experience for investors and 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 also announced that Amit Kapoor has joined as the new CFO and Vice-President for the company. Prior to this role, he was working with Aviva India as CFO of the life insurance company.
Paytm Money is headquartered in Bengaluru and has a team of over 300 employees. The company has over 6 million users on its platform, availing direct mutual funds and NPS. Paytm Money aims to invest Rs 250 crore over the next 12-18 months as it has planned to launch new businesses including equity brokerage in this financial year.