Goldman Sachs Appoints Sudarshan Ramakrishnan and Devarajan Nambakam as Co-Heads of Investment Banking in India
Goldman Sachs has announced the appointment of Sudarshan Ramakrishnan and Devarajan Nambakam as co-heads of its investment banking business in India, marking a strategic move to strengthen its leadership in the region. Sunil Khaitan has also joined as managing director and head of financing, with Kamna Sahni set to join as an executive director by month-end.
In their new roles, Ramakrishnan and Nambakam will oversee Goldman Sachs' investment banking strategy in India, focusing on enhancing client relationships and driving growth across various industry sectors. They will report directly 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”, stated Chatterjee.
Ramakrishnan, previously Co-Chief operating officer of Goldman Sachs investment banking in India, brings extensive experience in client coverage across sectors including technology, media & telecom, consumer & retail, metals & mining, and large conglomerates. He joined Goldman Sachs in 2004 and has been based in Mumbai since 2007, achieving managing director status in 2015.
Nambakam, also Former Co-Chief operating officer of investment banking in India, has a strong background in client coverage spanning financial sponsors, natural resources, healthcare, industrials, and infrastructure. Joining Goldman Sachs in 2006, he moved to Mumbai in 2010 and was appointed managing director in 2017.
Khaitan, now managing director and head of financing, will collaborate with Kailash Soni, head of ECM in India, to expand Goldman Sachs’ business by delivering innovative equity and debt solutions. His previous role included heading ECM for Southeast Asia at a global investment bank.
Goldman Sachs’ strategic appointments come amidst a robust outlook for India’s economy, with Goldman Sachs Research predicting it could become the world’s third-largest economy by the end of this decade. The first half of 2024 has seen record-breaking activity in Indian equity capital markets, reaching $27.5 billion, up 193% year-over-year, according to Dealogic.
The firm's commitment to India underscores its dedication to leveraging global expertise locally and fostering long-term client partnerships amid evolving economic landscapes.
