Ex-Paytm President Picked Up by JPMorgan to Lead European FinTech Coverage

Amit Nayyar, the former president of Indian payments behemoth Paytm, was hired by JPMorgan Chase & Co. to head up its advisory work with European FinTech companies. Nayyar left Paytm in July, Bloomberg reported on Tuesday (Dec. 14).

Nayyar will start with JPMorgan on Monday (Dec. 20) and will lead FinTech and payments coverage for Europe, the Middle East and Africa, a JPMorgan spokesperson said. He will work out of the London office and report to Matt Gehl and Xavier Bindel, co-heads of EMEA technology investment banking.

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Nayyar left Paytm before the payments startup filed in November for what would be India’s largest initial public offering at $2.4 billion. Before Paytm, he was a managing director at investment bank Arpwood Capital and also worked on the Indian investment banking team for Goldman Sachs.

The new hire by JPMorgan mirrors moves by other European FinTech firms as the industry reaps historic amounts of new capital. Perella Weinberg Partners hired FinTech and payments specialist Max Mesny, who was a payments pro at Credit Suisse Group AG.

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JPMorgan Chase is headquartered in New York City and as of the end of June was the largest bank in the U.S. and the fifth-largest worldwide, controlling $3.684 trillion. It’s among the country’s Big Four banks that include Bank of America, Citigroup and Wells Fargo.