Goldman Sachs has hired JPMorgan banker Chandresh Chheda as co-head of investment banking in India, according to an internal memo reviewed by Reuters, as dealmaking and investor interest pick up in the South Asian country.
Chheda, who joins as a managing director based in Mumbai, will run the business alongside Dev Nambakam, the memo said.
He was previously a managing director at JPMorgan, where he covered India’s new-age technology sector.
Chheda brings more than 22 years of investment banking experience, including a decade in New York covering industrials at Deutsche Bank and J.P. Morgan, according to the memo.
Goldman Sachs confirmed the contents of the memo.
The world’s top merger and acquisition adviser for more than two decades, Goldman Sachs has benefited from a rebound in global dealmaking after a sharp slump in the weeks following the start of the Iran war.
In India, the bank advised on Life Insurance Corp’s $3.3 billion stake sale and Manipal Hospitals’ $1 billion IPO, both this month.
Reuters
