5paisa Appoints Narayan Gangadhar as a CEO
Mumbai, May 26, 2023 – In a strategic move, leading discount brokerage firm 5paisa Capital has announced the appointment of Narayan Gangadhar as its new Chief Executive Officer (CEO). Gangadhar, a former executive at global technology giants Google, Uber, and Amazon, brings over two decades of invaluable experience to his new role.
With an educational background comprising a Bachelor of Engineering from Mumbai University and a Master’s degree in Computer Science from Worcester Polytechnic Institute, Gangadhar possesses a strong foundation in engineering and technology. This expertise is expected to greatly contribute to the digital transformation objectives of 5paisa.com.
R Venkataraman, the promoter of 5paisa.com, expressed confidence in Gangadhar’s appointment, stating, “Gangadhar’s engineering skills and Silicon Valley experience with tech giants will complement the digital transformation priorities at 5paisa.com. Technology, both on the infrastructure trading platform and user interface experience side, will play a critical role in the brokerage industry going forward.”
As of March 2023, 5paisa.com boasts a substantial customer base of approximately 3.5 million individuals, firmly establishing itself as a leading discount broker in the industry. Moreover, the company recently made headlines with its announcement of a merger agreement with the online retail trading business of IIFL Securities in December 2022. This all-stock deal is set to add over 1.5 million customers to 5paisa.com’s existing business, resulting in a total customer count of 5 million.
The appointment of Narayan Gangadhar signals 5paisa Capital’s commitment to leveraging top-tier talent to drive growth and enhance its digital capabilities. With a focus on technology-driven solutions, the company aims to strengthen its position in the highly competitive brokerage landscape.
5paisa is a rapidly expanding discount stockbroker in India. At 5paisa, we understand the importance of money and recognize that investments should offer both security and returns. Our operations are supported by IIFL, one of India’s top financial services firms.
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