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Angel One, the countrys third largest stock broker, is set to undertake a major corporate restructuring exercise, according to two people in the know. Angel One is setting up a holding company under which all its different business entities will be held as subsidiaries.
Paytm Money, the wealth management platform of One 97 Communications Ltd, has appointed Rakesh Singh as its new CEO, replacing Varun Sridhar. Singh, p
Paytm Money, the wealth management platform of One 97 Communication, has replaced chief executive Varun Sridhar, at the helm since 2020, with Rakesh Singh. Singh was the chief executive of broking services at Fisdom, a PayU-backed fintech.
The position of the finance chief at Paytm Money had been vacant since April 2023, when Amit Kapoor left the firm after a nearly three-year stint. Mewada, who joined the company in the last week of January, was earlier the deputy CFO at ICICI Securities.
A crop of tech-first stockbrokers is not only leading from the front in adding new customers, theyre also generating strong revenues and profits. These stock-broking platforms, which have diversified beyond stock trading to position themselves as full-fledged financial services firms, have left behind the traditional players in terms of user sign-ups.