Paytm, an Indian fintech company, has reshuffled its management to grow payments and financial services, naming Rakesh Singh as the new CEO of Paytm Money, the company's investment arm. Rakesh Singh, who previously served as CEO of Fisdom's stockbroking entity, also held key roles at ICICI Securities and Standard Chartered. Rakesh Singh replaces Varun Sridhar, who will serve as CEO of Paytm Services, which specializes in wealth products and mutual fund distribution. Bhavesh Gupta, who previously served as president and chief operating officer of Paytm's payments and lending division, will step down for personal reasons.
In April, Paytm also announced the resignation of Surinder Chawla, CEO and managing director of its banking division, effective June 26. Paytm founder Vijay Shekhar Sharma also stepped down from the company's board in February this year, according to the company. According to the company, the new appointment is in line with the company's moves in expansion, innovation and regulatory compliance.
Paytm adjusts management to develop payments and financial services
2024-05-06 05:29:22
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