Paytm Money Appoints Rakesh Singh as New Chief Executive, Replacing Varun Sridhar
Paytm Money, the wealth management platform of One 97 Communications Ltd, has announced the appointment of Rakesh Singh as its new Chief Executive Officer (CEO), succeeding Varun Sridhar, who held the position since 2020. Rakesh Singh, who previously served as the CEO of broking services at PayU-backed Fisdom, has reportedly assumed the role of CEO at Paytm Money last month.
Paytm Money, headquartered in Bengaluru, specializes in stock market and mutual fund investments. It is a prominent player in the direct mutual funds segment, offering schemes without the involvement of third-party distributors.
According to a report published in the Economic Times, Varun Sridhar has been reassigned to a different role within the group following the leadership transition. During his tenure, Paytm Money, which faces competition from industry peers such as Zerodha, Groww, Upstox, and Angel One, achieved profitability.
The development assumes significance in the backdrop of the company’s continued efforts to enhance its offerings and strengthen its market position in the dynamic financial services sector.
