Corporate Crossings | Paytm sees another exit as enterprise functions president jumps to Grant Thornton

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In yet another top level exit at Paytm, Deepankar Sanwalka, President ( Enterprise Functions) has quit the financial services major after a year-long stint, multiple industry sources with knowledge of the matter told Moneycontrol.

In the last seven months, the Noida headquartered firm has also seen departures from Abhishek Arun, COO, Paytm Payments Bank, Renu Satti, COO, offline payments , Paytm and Abhishek Gupta, SVP and COO ( lending), Paytm .

Ahead of its Rs 18,300 cr IPO in 2021, back then the largest in India’s capital market history ( later LIC’s Rs 21,000 cr IPO took the top spot), the firm also saw exits from Amit Nayyar, President, Paytm and Rohit Thakur, the Chief Human Resources Officer.

“ Deepankar Sanwalka has resigned from Paytm and is soon expected to take up a senior leadership role at Grant Thornton India ,” said one of the persons cited above.

Three other persons confirmed the move.

Sanwalka, a chartered accountant and Big 4 veteran of 27 years who is said to have pioneered the forensic services profession in the country has previously worked with PwC where he was the India Advisory Leader and Leader- Risk Advisory services and a member of the firm’s India Leadership Team, Global and Asia Pacific Americas (APA) Advisory leadership teams. Earlier at KPMG, he led the Risk Consulting vertical where he had a stint of two decades.

All the four persons above spoke to Moneycontrol on the condition of anonymity.

In response to an email query from Moneycontrol, a GT spokesperson confirmed that Sanwalka would join the firm. “ We are delighted to welcome Deepankar Sanwalka to our Partnership from 1 July. He is a senior leader who brings the experience of rapidly scaling up non-audit professional services offerings, so critical for the ambitious growth plans of our firm from 7,000 to 15,000 people over the next 3 years,” the spokesperson said.

Moneycontrol has sent reminders but an email query sent to Paytm was left unanswered at the time of publishing this article.

Note For Readers: Corporate Crossings is a new series that will put the lens on important executive movements within companies and in the industry and capture the exits & new innings of members of India Inc, investment bankers, lawyers, Big 4 professionals, private equity investors & more.