
Temasek names Promeet Ghosh India MD
Temasek Holdings has appointed Promeet Ghosh as its first managing director level appointment in India. He will report to Singapore-based Rohit Sipahimalani and Lee Then Kiat who share responsibility for investments in the country.
Ghosh previously spent more than two decades at Merrill Lynch, before and after the merger with Bank of America. He has been involved in a number of high-profile M&A transactions, including Holcim's investment in Gujarat Ambuja Cement and Larsen & Toubro's divestment of cement asset Grasim, as well as several deals involving Aditya Birla Group.
Ghosh departed Bank of America Merrill Lynch last year to join a private equity advisory firm set up by Rajeev Gupta, formerly India head for The Carlyle Group. It was reported in early 2011 that the firm was struggling due to a weak deal-making environment.
Temasek's India portfolio currently includes equity stakes in Bharti Airtel, Tata Teleservices, GMR Energy and the National Stock Exchange of India. Earlier this year the Singapore sovereign wealth fund exited its 1.4% holding in ICICI Bank for INR14.7 billion ($299 million).
Manish Kejriwal, who set up Temasek's Mumbai office in 2004, departed last year to set up Kedaara Capital with Sunish Sharma and Nishant Sharma, formerly of General Atlantic. Earlier in 2011, Padmanabh Sinha, a managing director at Temasek India, left to join Tata Capital Private Equity.
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