Three senior executives quit financial services firm Paytm, says report

Three senior executives at Paytm have quit the financial services firm that recently listed on the Indian stock exchange, a news report said Thursday.

According to a report in the Mint, Abhishek Arun, chief operating officer (COO) of Paytm Payments Bank; Renu Satti, COO, offline payments; and Abhishek Gupta, senior vice-president and COO, lending, have left the firm.

"After a fulfilling six years at Paytm ( across One97 & Paytm Payments Bank) I’ve made the difficult decision to leave the company and explore new opportunities," said Arun in a LinkedIn post a week ago.

Satti has been with Paytm since 2006, having served in many roles across business lines.

Gupta joined Paytm last year as senior vice-president and COO-lending, has resigned and is currently serving his notice, said the financial daily.

However, he denied having quit the company to the publication.

Paytm did not comment on the news of the resignations.

The Noida-based firm has seen several exits in the past two years. A few months before its IPO in November, Amit Nayyar, Paytm’s president, also left the company. The former Goldman Sachs executive was brought in in 2019 to build and head the company’s financial services business.

Around the same time, Paytm Payments Bank’s former CEO, Shinjini Kumar, joined the bank’s board. According to the company’s filings with the Registrar of Companies, Kumar joined as a director of Paytm Payments Bank.