Goldman Sachs taps BofA bankers for Indian dealmaking roles: reports
Goldman Sachs has hired two senior bankers in India to cash in on growing dealmaking and investor interest in the South Asian country, three sources with direct knowledge told Reuters on Wednesday.
Sunil Khaitan will become head of Goldman’s financing in India and Kamna Sahni India head of Mergers & Acquisitions (M&A) in Mumbai, the sources said, adding that the executives will join the bank in the coming months.
Both new hires previously worked at Bank of America. Khaitan was the bank’s head of equity capital markets in Southeast Asia, while Sahni was a director in India, focusing on the healthcare and industrial sectors.
Khaitan and Sahni declined to comment. Goldman declined to comment. Bank of America did not respond to questions from Reuters.
Goldman earned nearly $16 million in investment banking fees in the region in the first quarter of 2024, according to London Stock Exchange Group Data, which ranks fourth. The data shows that the firm ranked third in M&A advice and sixth in equity-related deals during the period.
In recent months it has advised Whirlpool and the co-founder of top Indian airline IndiGo on share sales, in addition to IPOs such as India’s largest e-scooter maker Ola Electric.
India is the world’s second busiest IPO market this year, behind the United States. Bankers expect more activity amid a lack of deals elsewhere in Asia, Reuters reported last month.
(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)
First print: April 24, 2024 | 9:38 PM IST