Goldman Sachs Strengthens India Investment Banking Leadership

Goldman Sachs has announced the appointment of Sudarshan Ramakrishnan and Devarajan Nambakam as co-heads of its Investment Banking business in India. The firm also welcomes Sunil Khaitan as managing director and head of financing in India, and Kamna Sahni as executive director in Mumbai.

New Leadership to Drive Growth Amidst Rising Economic Opportunity

Ramakrishnan and Nambakam will be responsible for overseeing Goldman Sachs’ broader investment banking strategy in India, focusing on fostering growth across various industries and deepening client relationships. They will report to Sonjoy Chatterjee, chairman and CEO of Goldman Sachs in India.

Chatterjee highlighted the strategic importance of these appointments, stating, “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.”

This move comes as Goldman Sachs Research predicts India could become the world’s third-largest economy within the decade. The Indian equity capital markets (ECM) have also seen significant growth, with the first half of 2024 being the busiest in history.

Experienced Leaders to Take the Helm

Both Ramakrishnan and Nambakam bring extensive experience to their new roles. Ramakrishnan previously served as co-chief operating officer of Goldman Sachs investment banking in India, with responsibility for client coverage across various sectors. He joined the firm in 2004.

Nambakam also served as co-chief operating officer of investment banking in India, focusing on clients in financial sponsors, natural resources, healthcare, industrials, and infrastructure sectors. He joined Goldman Sachs in 2006.

Goldman Sachs’ recent appointments in India demonstrate the firm’s confidence in the country’s economic potential. With seasoned leaders at the helm and a focus on deepening client relationships, the company is well-positioned to capitalize on the growing opportunities in the Indian investment banking sector. These strategic moves reinforce Goldman Sachs’ commitment to playing a significant role in India’s economic growth story.