“He will lead the launch & development of the equity brokerage other than growing the already successful mutual funds, NPS and Gold services,” the company said in a media statement shared with ET.
Paytm founder and CEO Vijay Shekhar Sharma said last week at an industry event that they will start stock broking business in the next “three-four week.”
Previously the CEO of FinShell India where he launched the realme PaySa – a fintech platform on mobile, Sridhar also has worked with BNP Paribas where he oversaw the acquisition of brokerage ShareKhan.
“As a board member & member of the executive committee, he supported the scale-up of the digital equity brokerage & mutual fund business,” the company said.
Paytm Money also announced that Amit Kapoor, who was the ex-CFO of Aviva India, has joined as the new CFO & Vice President of the company.
“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. “I look forward to working closely with him to expand Paytm Money further.”
Sridhar would be directly reporting to Nayyar, the company said.
“At Paytm Money, I hope to build along with a fantastic team the most cost-effective & consumer friendly products & experience for investors & traders,” said Sridhar, CEO Paytm Money. “The wealth management and financial service solutions.”