Goldman Sachs appoints BofA bankers to manage deal-making positions in India

To capitalize on increasing dealmaking and investor interest in the South Asian nation, Goldman Sachs has hired two senior bankers in India, three people with direct knowledge told Reuters on Wednesday.

According to the sources, Sunil Khaitan will lead Goldman Sachs India’s financing division while Kamna Sahni will oversee Mergers & Acquisitions (M&A) in Mumbai. Both executives are expected to join the bank within the next few months.

Prior to this, both recent hires were employed at Bank of America. Sahni was a director in India with an emphasis on the healthcare and industrial sectors, while Khaitan oversaw the bank’s Equity Capital Markets division for Southeast Asia. Goldman opted not to respond. Inquiries from Reuters were not answered by the Bank of America.

According to the data, it came in third for M&A advisory and sixth for equity-related deals over the time frame.

It has advised Whirlpool and the co-founder of IndiGo, a leading Indian airline, on stock sales in recent months. It has also guided IPOs, including the largest e-scooter manufacturer in India, Ola Electric.

Due to a lack of deals elsewhere in Asia, bankers anticipate increased activity in India, which is the second busiest IPO market globally this year behind the United States, as Reuters reported last month.