Varun Sridhar is the new CEO of Paytm Money, which is a subsidiary of One97 Communications Ltd, which also operates Paytm.
Few months ago Paytm Money former MD and CEO Pravin Jadhav resigned from the startup due to differences with paytm management.
Sridhar will lead the development and launch of equity brokerage services for the firm. He also will grow existing products around mutual funds, gold services and national pension system offered by the company.
“At Paytm Money, I hope to build the most cost-effective, 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,” said Varun Sridhar, CEO at Paytm Money.
Paytm founder Vijay Sharma said that in the coming weeks company will launch stock broking services. Paytm Money has been granted approval from SEBI to begin stock broking services on its platform last year
Sridhar has last served as CEO of FinShell India, which may be a a part of Chinese mobile company , OPPO, where he helped launch realme PaySa a mobile fintech platform.
Prior to this, Sridhar was with BNP Paribas for on the brink of eight years where among other assignments, he helped within the acquisition of Sharekhan.
“Paytm Money is on a mission to empower many 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,” said Amit Nayyar, President at Paytm.
Paytm Money also said Amit Kapoor has joined because the new CFO and vice chairman.
Bengaluru-based Paytm Money features a team of 300 employees and a user base of over six million on its platform.
Last year, Paytm Money said that it looking to take a position ₹250 crore over subsequent year approximately on launch new businesses including equity brokerage during this fiscal year .