MUMBAI (Aug 11): 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 JPMorgan, 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 benefitted 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 US$3.3 billion stake sale and Manipal Hospitals' US$1 billion IPO, both this month.

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