5paisa Capital gains after appointing Gaurav Seth as new CEO

5paisa Capital added 1.50% to Rs 423.10 after the company's Nomination & Remuneration (NRC) Committee of Board has approved the appointment of Gaurav Seth as a Chief Executive Officer (CEO) of the company with effect from 14 January 2025.

Gaurav Seth has twenty-five years of experience in building businesses at the intersection of financial services and technology globally, with experience spanning the US, India and Southeast Asia.

Prior to joining 5paisa, he was the chief product officer at Syfe where his focus was on building Syfe as the leading digital wealth player in South East Asia. Before Syfe, he was the chief business officer and part of the initial team at Paytm Money, where he has played a pivotal role in establishing Paytm Money as one of the top brokerage and mutual fund distributor in India. At Morgan Stanley, Gaurav has led the digital transformation of Morgan Stanley's wealth management business in New York and advised leading wealth managers on their digital strategies.

Seth holds the CFA designation and an MBA from the Indian School of Business, Hyderabad.

The decision to appoint Seth was made during a meeting of the Board of Directors held today, 14 January 2025.

5paisa Capital is engaged in providing financial products through its online technology platform and mobile applications. It is registered with SEBI as a stock broker, depository participant and research analyst, and with AMFI as a mutual fund distributor.

The stockbroking companys consolidated net profit jumped 15.02% to Rs 21.90 crore in Q2 FY25 from Rs 19.04 crore reported in Q2 FY24. The companys total income rose 4.02% year on year (YoY) to Rs 100.85 crore in the quarter ended 30 September 2024.

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