Global financial institution Goldman Sachs, on 15 July, elevated Sudarshan Ramakrishnan and Devarajan Nambakam as the co-heads of investment banking in India, betting big on expected growth in the Indian economy.
In a statement, the company said Ramakrishnan and Nambakam will manage the firm’s broader investment banking strategy and drive growth across industry groups in India with a focus on deepening and broadening client relationships.
‘India one of the largest, most exciting growth opportunities in the world’
“India is one of the largest and most exciting growth opportunities in the world,” said Sonjoy Chatterjee, chairman and chief executive officer of Goldman Sachs in India, in the statement. “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.”
The company added that Sunil Khaitan also joined investment banking as a managing director and head of financing in India, while another banker, Kamna Sahni will join Goldman Sachs in Mumbai as an executive director, at the end of the month. The newly-appointed executives will report to Chatterjee, according to Goldman Sachs.
Founded in 1869, Goldman Sachs delivers a broad range of financial services to corporations, financial institutions, governments and individuals.
It is headquartered in New York and established a presence in Mumbai in 2006. Since 2021 alone, Goldman Sachs has helped issuers raise over $20 billion in Indian equity markets, including Life Insurance Corp.’s $2.7-billion IPO, the largest-ever public offering in India.