Goldman Sachs has announced key appointments to its investment banking leadership team in India, underscoring its commitment to expanding its presence and capabilities in the region. Sudarshan Ramakrishnan and Devarajan Nambakam have been named co-heads of its investment banking business in India, a move designed to enhance the firm’s leadership and growth strategy in the country. In addition, Sunil Khaitan joins as managing director and head of financing, with Kamna Sahni set to become an executive director by the end of the month.
Ramakrishnan and Nambakam will lead Goldman Sachs’ investment banking strategy in India, focusing on strengthening client relationships and driving growth across various industry sectors. They will report to Sonjoy Chatterjee, chairman and CEO of Goldman Sachs India.
“As the complexity of our clients’ needs grow in tandem with the Indian economy, these appointments reflect our continued conviction to bring together the firm’s global expertise, resources, and network to further differentiate the advice, service, and execution we provide our clients,” Chatterjee stated.
Ramakrishnan, who was previously Co-Chief Operating Officer of Goldman Sachs investment banking in India, has extensive experience covering sectors such as technology, media, telecom, consumer retail, metals, mining, and large conglomerates. He joined Goldman Sachs in 2004, has been based in Mumbai since 2007, and was named managing director in 2015.
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Nambakam, also a former Co-Chief Operating Officer of investment banking in India, has a background in client coverage across financial sponsors, natural resources, healthcare, industrials, and infrastructure. He joined Goldman Sachs in 2006, moved to Mumbai in 2010, and was appointed managing director in 2017.
In his new role as managing director and head of financing, Khaitan will work with Kailash Soni, head of ECM in India, to expand Goldman Sachs’ business by providing innovative equity and debt solutions. Previously, Khaitan headed ECM for Southeast Asia at a global investment bank.
Goldman Sachs’ strategic appointments come at a time of strong economic prospects for India. Goldman Sachs Research predicts that India could become the world’s third-largest economy by the end of this decade. The first half of 2024 saw record-breaking activity in Indian equity capital markets, with $27.5 billion in activity, up 193% year-over-year, according to Dealogic.
These appointments underscore Goldman Sachs’ commitment to leveraging its global expertise locally and fostering long-term client partnerships amid evolving economic landscapes.
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