India, May 1 -- Ujjwal Jain, CEO of IPO-bound PhonePe's stockbroking arm Share.Market and its wealth management vertical, has stepped down from his role after a near four-year stint.

In a post on LinkedIn, Jain termed his resignation as an end of a "decade-long Chapter 1". "This is not a goodbye. This is a relaunch," he said.

Jain founded wealth management startup WealthDesk in 2016 and retail-focused advisory OpenQ (Quantech Capital), along with Sujit Modi, in 2018. Both the ventures were acquired by Walmart-owned PhonePe in 2022.

In August 2023, PhonePe forayed into stock broking with the launch of Share.Market, under its subsidiary PhonePe Wealth Broking Pvt Ltd. Jain took charge as the CEO of this business.

While Jain did not disc...