After Ex-Googler Amit Singhal’s appointment, mobile payment and commerce company, Paytm announced the appointment of Mark Schwartz, Vice Chairman of the Goldman Sachs Group and Chairman of Goldman Sachs, Asia-Pacific, on its board of directors.
Schwartz, who is currently based in Beijing, has been a member of Goldman’s management committee for over 27 years. He retired from the firm in 2001 but later rejoined as the Asia-Pacific chairman in 2012 and played a major role in helping Alibaba founder Jack Ma and Executive Vice Chairman Joseph Tsai with Alibaba’s $25 billion IPO in New York in 2014.
“Mark has played a critical role in building leading businesses in the Asia Pacific region and across the world. I am confident that Mark’s insights would offer excellent leadership for Paytm as we work towards bringing half a billion Indians to the mainstream economy,”CEO of Paytm, Vijay Shekhar Sharma said in a press release.
Schwartz will be the 12th member on the board of Paytm which includes, apart from Sharma, SAIF Partners Directors Ravi Adusumalli and Vivek Mathur, Alibaba representative Jing Xiandong, Neeraj Arora from Whatsapp Inc and Tata Sons Chairman emeritus Ratan Tata.
The appointment comes in at a time when Paytm is all set to go live with its ambitious payments bank launch post Diwali this year.
“India is one of the most dynamic and interesting economies in the world and I’m incredibly excited about working with Vijay and his team,” Mark Schwartz said.