Paytm appoints ex-Goldman Sachs exec Amit Nayyar as President to lead financial services business
Ex-Goldman Sachs exec Amit Nayyar will lead efforts to further Paytm's footprint in lending, insurance, wealth management, and broking businesses.
Digital payments leader Paytm, owned by One97 Communications, on Tuesday, said that it has appointed Amit Nayyar as President. He will be responsible for the financial services business at the startup in a newly created role.
The company, in a statement, said that Amit will lead Paytm's efforts to further its footprint in lending, insurance, wealth management, and broking businesses.
Amit is expected to report directly to Vijay Shekhar Sharma, Founder, and CEO of Paytm.
Speaking on Amit’s appointment, Vijay said,
“As we focus on expanding our offerings in financial services, we are excited to welcome Amit to the Paytm team. Amit’s experience and track record in the BFSI sector will help us accelerate our vision of bringing new-age financial services to Indians."
“Paytm is the most successful and fascinating growth stories of our times and I am thrilled to be a part of the team that has transformed digital payments and leading the paradigm shift in financial services. Vijay has truly created a global organisation for the future with an enviable investor base and I am very excited to be a partner in this journey.”
Previously, Amit has been an investment banker who has led numerous marquee transactions with extensive experience in mergers and acquisitions (M&A), corporate strategy and public or private fundraising, especially across BFSI segments like banking, added Paytm.
Most recently he served as the Managing Director at Arpwood Capital.
Amit also served Goldman Sachs from 2009 to 2016 as an Executive Director and the Co-COO for Investment Banking. He was also the Head of Financial institutions, Industrials and Infrastructure Group there.
He has worked with the Bank of America Merrill Lynch as a senior member of the financial institution's group.
Amit completed his MBA from the Indian Institute of Management (IIM), Bangalore in 2002, and graduated from Punjab Engineering College, Chandigarh in 2000.
(Edited by Saheli Sen Gupta)
Tarush is driven towards delivering unbiased and accurate reportage while engaging with as many mediums as possible to narrate a fresh perspective. Working for the past few years in the digital space with YourStory, he has covered the Indian technology ecosystem extensively, focusing on new age Fintech companies, while building strong connects within the industry.