Goldman Sachs veteran Raghav Maliah has been appointed its global chairman of investment banking, according to a staff memo seen by Banking Dive.
“As we continue to grow and unite our investment banking business across Asia Pacific, Raghav will lead our work with a broader array of clients, leveraging his deep understanding of global industries and markets to advance our franchise,” the memo said. “Raghav is among our most seasoned and strategic bankers, and he has steered many of the firm’s significant and complex client relationships for decades through his various leadership roles in Asia Pacific.”
Maliah currently serves as co-head of mergers and acquisitions in Asia Pacific, as well as head of the region’s technology, media and telecommunications group, excluding Japan. He took the helm of the former in September, alongside co-heads Yoshihiko Yano and Ed Wittig, Reuters reported.
Maliah will retain those roles alongside his chairmanship, according to the memo.
Goldman is rejigging its Asia business to get its hands on more of the region’s market share, head of investment banking Asia Pacific Iain Drayton told Reuters last month. The bank is consolidating its Japan, Australia and New Zealand, and Asia ex-Japan businesses into one regional entity under Drayton.
“On an APAC basis, we’re seeing some strong tailwinds at the moment — quite a contrast to the headwinds that defined the past two to three years,” Drayton said.
“Market sentiment, investor engagement, and transaction momentum are all moving in a more constructive direction,” he told the wire service.
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