PhonePe appoints former Standard Chartered Bank CEO Zarin Daruwala to the board

Ahead of its proposed Initial Public Offering (IPO), financial services company PhonePe has appointed Zarin Daruwala, former CEO of Standard Chartered Bank for India and South Asia, to its board.

In February, PhonePe had announced that it was beginning preparations for IPO in order to list on Indian exchanges.

Daruwala headed Standard Chartered Bank – India from 2016 to March 2025. Before joining Standard Chartered Bank, she was the president at ICICI Bank, responsible for managing the wholesale banking business of the bank. In addition to her responsibility, Daruwala served on the board of directors of key ICICI group companies, ICICI Lombard – General Insurance, and ICICI Securities. In the past,she has been on the board of JSW Steel too.

In May, PhonePe had named chief executive Sameer Nigam, chief technology officer Rahul Chari, chief financial officer Adarsh Nahata and company secretary Ankit Popat as key management personnel, stated a Moneycontrol report.

Here, the executives would be considered the go-to people for any issues pertaining to regulatory or for communication with the Reserve Bank of India (RBI) or market regulators SEBI, etc.

The announcement was a part of PhonePe's move to becoming a public company from a private company, ahead of its planned Initial Public Offer (IPO), further added the report.

In April, it had been reported that PhonePe had transitioned from a private firm to a public company, ahead of its IPO, where it would change its name from PhonePe Private Limited to PhonePe Limited.

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