Temasek's India MD departs for Tata Capital
Managing Director of Temasek Holdings Advisors India, Padmanabh Sinha, has left the Singaporean sovereign wealth fund to assume the role of Senior Partner at Tata Capital, Sinha told local Indian media.
According to India's Business Standard, Sinha confirmed he has submitted his resignation letter last week and is looking to join Tata in a month's time. His departure comes nearly seven years after he joined Temasek, playing a critical role in the SWF's launch and expansion in India. According to Temasek, its South Asia region - comprised of India and Pakistan - accounted for 1% of its portfolio as of 2004, and grew to 7% by 2009. Sinha has also held executive roles at ICICI Venture, start-up eGurucool.com and Rabobank, the report notes.
Among Temasek's highlights in India was last year's $200 million investment into GMR Energy. It also eyed an increased stake in India's largest private bank, ICICI Bank, which was snarled after the Indian finance ministry and the Reserve Bank of India lodged a motion with the Securities & Exchange Board of India (SEBI) to stop the deal's procession.
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