Goldman Sachs is set to hire Sonjoy Chatterjee, a board member of ICICI Bank, as co-chief executive officer for India, The Economic Times reported today, citing unnamed sources. Goldman Sachs has refused to comment.
The newspaper said Sonjoy Chatterjee would be named co-chief executive at Goldman Sachs in India alongside Brooks Entwistle, who has headed the bank's operations in the country since January 2006. The report said the move might be announced in the next few days.
A Reuters report said a Goldman Sachs spokesman in Hong Kong declined comment.
The move to rope in the 41-year-old ICICI banker could help Goldman Sachs make deeper inroads into Indian industry, the paper quoted two officials as saying.
ICICI Bank will elevate Rajiv Sabharwal, who has returned as senior general manager and currently heads its retail banking operations, to fill in the board vacancy that will be created by Chatterjee's exit, the paper said.
This is the second senior-level movement of a top private sector banker to the investment banking space in the past few months. Recently, PJ Nayak, former chairman and chief executive of Axis Bank, was appointed the head of Morgan Stanley's India operations.