Paytm, owned by One97 Communications Limited (OCL), has announced significant leadership changes to bolster its payment and financial services offerings. The company aims to build a robust and profitable distribution business in these sectors.
Bhavesh Gupta, the President and Chief Operating Officer responsible for overseeing payments and lending, has decided to take a career break due to personal reasons. However, he will continue to contribute in an advisory capacity to support Paytm’s growth initiatives until the end of the year.
Vijay Shekhar Sharma, Founder and CEO of Paytm, expressed gratitude to Bhavesh Gupta for his contributions and emphasized the company’s unwavering focus on payments and lending. Sharma affirmed his commitment to work with the experienced leaders within each business segment to execute strategic plans effectively.
In his new role as an advisor, Bhavesh Gupta expressed confidence in Paytm’s future success, citing the depth of leadership talent in payments and financial services that has been cultivated over the years.
The company has also made leadership transitions within its wealth subsidiary, with Rakesh Singh appointed as the new Chief Executive Officer of Paytm Money Ltd (PML). This move comes as Varun Sridhar, former head of Paytm Money Ltd, assumes the role of CEO at Paytm Services Pvt Ltd (PSPL), transitioning to new leadership responsibilities.
Vijay Shekhar Sharma commended the direction set by Varun Sridhar to expand Paytm’s role in deepening the penetration of mutual funds and wealth management products in India. He welcomed Rakesh Singh to the Paytm Wealth business, highlighting the company’s commitment to developing world-class, technology-led wealth offerings for young Indians.
Rakesh Singh expressed his honor and responsibility in stepping into the role of CEO at Paytm Money Ltd, emphasizing the company’s dedication to innovation and excellence in financial services.
These leadership changes reflect Paytm’s strategic vision to strengthen its position in the payments and financial services landscape, driving innovation and growth to better serve its customers.
