Goldman Sachs has appointed Sudarshan Ramakrishnan and Devarajan Nambakam as co-heads of its Investment Banking division in India. Additionally, Sunil Khaitan has joined as a managing director and head of Financing in India. These appointments are part of the company’s strategy to capitalize on India’s growth potential, aiming to make the country the world’s third-largest economy within this decade.
Ramakrishnan and Nambakam will oversee the broader investment banking strategy, driving growth across various industries. They will report directly to Sonjoy Chatterjee, chairman and CEO of Goldman Sachs India. Chatterjee highlighted the significance of these appointments in enhancing the firm’s ability to address the evolving needs of its clients in a rapidly growing Indian economy.
Sunil Khaitan, along with Kailash Soni, head of ECM in India, will focus on expanding equity-linked and debt solutions for clients. Ramakrishnan previously served as co-CIO of Investment Banking in India, managing clients across sectors like Technology, Media & Telecom, Consumer & Retail, and Metals & Mining. Nambakam, who was co-COO of Investment Banking in India, has experience covering clients in Financial Sponsors, Natural Resources, Healthcare, Industrials, and Infrastructure sectors.
Goldman Sachs projects that India’s favorable demographics will support an annual growth rate of over 6% until 2030, with earnings growth expected at a 14% compound annual growth rate over the next five years. The firm views capital investment as a significant driver of India’s economic growth.