Paytm COO Bhavesh Gupta Resigns, Rakesh Singh Appointed CEO of Paytm Money
Bhavesh Gupta, President and Chief Operating Officer of Paytm, has resigned from the company to take a career break due to personal reasons. He will transition to an advisory role until the end of the year. Gupta joined Paytm in August 2020 and oversaw the payments and lending businesses.
Rakesh Singh has been appointed as the new Chief Executive Officer of Paytm Money. Singh has over two decades of experience in the financial industry, previously serving as CEO of the stockbroking business at Fisdom and holding key management positions at ICICI Securities and Standard Chartered Bank.
Varun Sridhar, who was heading Paytm Money, has been moved to the role of CEO of Paytm Services, which deals with the distribution of mutual funds and other wealth management products.
Paytm CEO Vijay Shekhar Sharma thanked Gupta for his contributions and his role in ensuring a smooth transition. He also appreciated Sridhar's contribution in expanding Paytm's role in deepening the penetration of mutual fund and wealth management products in the country.
Sharma welcomed Singh to Paytm Wealth business and expressed his commitment to building world-class technology-led wealth offerings for young Indians.