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Temasek Hires Ex-BofA Banker Ghosh as India Managing Director

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. 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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