One 97 Communications Limited that owns the brand Paytm, India’s leading digital payments and financial services company, announced the appointment of financial services veteran GS Sundararajan as an Independent Director to its Board. The company also announced the retirement of Independent Director Mark Schwartz from its Board, upon completion of his tenure. Previously, Schwartz had served as Chairman of Goldman Sachs Asia Pacific.
Vijay Shekhar Sharma, Founder and CEO, Paytm said, “Having worked with Mark for the last five years, I have gained a friend, mentor and guide who has an exemplary understanding of how businesses can grow and scale. I want to extend my gratitude and thank Mark for his support over the years. I would also like to take this opportunity to welcome GS Sundararajan, a respected leader in the banking and financial industry, to our Board.”
Talking about his tenure with the company, Mark Schwartz said, “Over my years of association with Paytm, I have seen the company grow and redefine the digital payments space in India. As I move on from its Board, I remain excited about its future, and will continue to cheer for Paytm. I wish Vijay and the team all the best in his future endeavors.”
Sundararajan was earlier the Group Director of Shriram Group and currently serves on the Boards of several reputed companies. He was also the CEO & Managing Director of Fullerton India Credit Company Ltd., a registered Non-Banking Finance Company catering to the financial services needs of the retail and commercial mass markets. Prior to Fullerton, Sundararajan was the Managing Director of SME and asset based finance business for Citibank India.
Talking about his appointment on the Board, GS Sundararajan said, “Paytm is a pioneer in the digital payments space in India and a household name. The company’s trajectory towards being a financial services giant is phenomenal, as it leverages its digital reach to drive financial inclusion. I’m looking forward to my association with Paytm and Vijay, a visionary entrepreneur.”
Prior to his Shriram stint, Sundararajan was the CEO & Managing Director of Fullerton India Credit Company Ltd., a registered Non-Banking Finance Company catering to the financial services needs of the retail and commercial mass markets. He was also the Managing Director of Fullerton Enterprises Private Limited., a KPO, which had formed a strategic alliance with the Centurion Bank of Punjab to jointly drive the SME business.
Sundararajan was nominated to the Boards of two Financial Services investments of Temasek in China, one in Nanjing for the SME Business and the other in Chengdu in their Village Bank franchise. He was an integral part of Temasek’s vision for India in the Banking and Financial Services space that went on to become the fastest growing and largest networked Finance Company in the country.
Earlier to this, he was the Managing Director and Head of Citibank’s SME and Asset Based Finance business in India. He had an exceptional stint at Citibank where he built the SME and ABF business of the bank across the country. He started his career in Sales with Eicher Mitsubishi and went on to head the captive finance arm of this company in India.
Sundararajan holds a Bachelor of Engineering degree from Coimbatore and a Post Graduate Diploma in Management from the Indian Institute of Management (IIM), Ahmedabad.
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