Paytm COO and president Bhavesh Gupta resigns, citing personal reasons

Bhavesh Gupta, President and Chief Operating Officer of One97 Communications Limited, which runs Paytm, has tendered his resignation and he will relieved from the services of the company from May 31, 2024. Bhavesh Gupta ,who was overseeing the payments and lending businesses, has decided to take a career break due to personal reasons, the company said. He will be transitioning to an advisory role, offering guidance for Paytm’s growth initiatives until the end of the year..

“I have decided to take a career break due to personal reasons. I look forward to supporting Paytm in an advisory role. I am confident of Paytm reaching new heights given the depth of leadership in payments and financial services that has been built over the past few years,” Bhavesh Gupta said.

Paytm has has also undertaken leadership transitions within its wealth subsidiary where Rakesh Singh has recently been appointed as the new Chief Executive Officer of Paytm Money Ltd (PML). With over two decades of experience, Rakesh Singh was previously the CEO of the stock broking business at Fisdom, and has held key management positions with ICICI Securities and Standard Chartered Bank.

One97 Communications has expanded its portfolio with Paytm Services Pvt Ltd (PSPL), a subsidiary dedicated to distributing mutual funds, and other wealth management products. Varun Sridhar, former head of Paytm Money Ltd, now leads as CEO at PSPL,
marking a transition to new leadership responsibilities.

Vijay Shekhar Sharma, Founder & CEO – Paytm said, “I would like to thank Bhavesh for his contributions and his role in ensuring a smooth transition. Our focus on payments and lending is stronger than ever, and I will work with the seasoned leaders that we have in each of our businesses to execute our plans. I am also excited about the direction that we have taken under the leadership of Varun to

expand Paytm’s role in deepening penetration of mutual fund and wealth management products in our country. I welcome Rakesh to Paytm Wealth business where we are committed to build world class technology led wealth offerings to young Indians.”