Temasek Holdings Pte has hired Promeet Ghosh, a former investment banker at Bank of America Corp.’s Indian unit as managing director in Mumbai.
Tan Yong Meng, a Temasek spokesman in Singapore, confirmed Ghosh’s appointment today. Ghosh, 42, left Bank of America last year to start an investment bank, two people said in April 2011.
Singapore’s state-owned investment company which managed S$193 billion ($150 billion) as of March 31 last year, has been increasing its investments in India. The company in 2010 said it had invested S$280 million in GMR Energy Ltd. and S$240 million in the National Stock Exchange of India Ltd. It agreed to buy a 4.9 percent stake in India’s Godrej Consumer Products Ltd. (GCPL) for 6.85 billion rupees in January.
Rohit Sipahimalani, took over as head of Temasek’s Indian unit since Manish Kejriwal left to “explore a new fund platform” in the South Asian nation, Stephen Forshaw, a spokesman for Temasek said October.
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