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Goldman to tap ICICI official as India co-CEO

Goldman to tap ICICI official as India co-CEO
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First Published: Thu, Apr 29 2010. 04 34 PM IST
Updated: Thu, Apr 29 2010. 04 34 PM IST
Mumbai: Wall Street bank Goldman Sachs is poised to hire a board member of ICICI Bank as co-CEO for India, a source with direct knowledge of the matter said on Thursday.
Sonjoy Chatterjee will be named co-CEO at Goldman Sachs in India, alongside Brooks Entwistle, an American who has led the bank’s operations in India since January 2006 and will remain the country head, the source said.
Both Goldman Sachs and ICICI declined to comment. The move was initially reported by Economic Times newspaper.
Goldman’s highest ranking for equity capital markets deals in India since it launched its stand-alone business in the country in 2006 is sixth, in 2007, according to Thomson Reuters data. That same year it ranked second for M&A advisory.
So far this year it ranks 18th in ECM and 14th on the M&A advisory league tables, Thomson Reuters data shows.
Global investment banks have been building up their operations in fast-growing and fiercely competitive India following a lull during the financial crisis.
The sector has seen several high-level moves in recent months, with Morgan Stanley and Bank of America Merrill Lynch both going outside their firms to hire new country heads for India.
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First Published: Thu, Apr 29 2010. 04 34 PM IST