Digital payments firm, Paytm has appointed Pravin Jadhav to lead its wealth management and investment business under Paytm Money, the company announced Tuesday .
Jadhav, who has earlier worked with Servify and Rediff, has joined the company as SVP.
Paytm Money will be based out of Bengaluru, as per a prepared statement from the company.
The payments firm is awaiting regulatory approvals before kicking off operations in the first quarter of this year.
Paytm also has a payments bank and the company wants to sell its wealth management products to its bank account holders. The way payments banks are structured they cannot lend to users and Paytm is looking to sell these products as a source of revenue.