Sonjoy Chatterjee To Join Goldman Sachs
By Arnab Ghosh, Gaea News NetworkThursday, April 29, 2010
NEW DELHI, INDIA (GaeaTimes.com)- ICICI Bank’s board member Sonjoy Chatterjee, who was a close aide of its former CEO KV Kamath is going to join investment banking giant Goldman Sachs, as it has been reported. He will assume the role of the CO-CEO of the bank’s Indian entity. He will share the responsibilities with Brooks Entwistle. This will be the third top level departure from the ICICI group in recent times. Last year Renuka Ramnath and Shikha Sharma, who were heading ICICI Venture and ICICI Prudential Life, left the company. Earlier they were considered the contenders for the CEO of the private sector bank.
Goldman Sachs is making the move in order to make foray into the Indian market. The Goldman Sachs officials have remained mum on the inclusion of Sonjoy Chatterjee but it is expected that the group will make a formal announcement in the coming days. It has been reported that Rajiv Sabharwal will be asked to step in the position vacated by Sonjoy Chatterjee by ICICI Bank. The bank has spent some time in stabilizing operations and curtailing loss making units. It is looking forward to aggressive expansion under the leadership of Chanda Kochhar, its new CEO.
Even a few months back, Sonjoy Chatterjee, as the bank’s executive director looked into businesses like government banking, corporate & investment banking etc. In March he was assigned the responsibility of heading the new business initiatives. In the Indian banking industry, Sonjoy Chatterjee is perceived as one of the most talented corporate bankers of the country. His association with ICICI dates back to 1994.
