Goldman Sachs has appointed Chandresh Chheda, a JPMorgan veteran, as co-head of its investment banking division in India, signalling a strategic push into the rapidly growing Indian dealmaking market.
Goldman Sachs has brought in JPMorgan banker Chandresh Chheda to serve as co-head of its investment banking business in India, a move that underscores the Wall Street firm’s push to deepen its franchise as dealmaking in the country gathers pace. According to an internal memo reviewed by Reuters, Chheda will be based in Mumbai and run the business alongside Dev Nambakam.
The appointment marks another shift in Goldman Sachs’s India leadership after the bank said in July that Sudarshan Ramakrishnan and Nambakam would co-head its investment banking business in the country. At the time, Goldman also named Sunil Khaitan as head of financing in India, in a series of changes aimed at strengthening client coverage and broadening the firm’s reach across industry groups.
Chheda joins from JPMorgan, where he was a managing director covering India’s new-age technology sector. The memo said he brings more than 22 years of investment banking experience, including a decade in New York focused on industrials at Deutsche Bank and JPMorgan.
The hire comes as global banks compete more aggressively for advisory work in India, where investor interest and transaction activity have improved. Goldman’s latest move suggests it is positioning its local team for a more active market, while also leaning on senior bankers with sector expertise and cross-border experience.
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