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Goldman Sachs recruits former Morgan Stanley banker Jaehoon Ahn for South Korea operations | Mint

Livemint

Livemint · 1y ago

Goldman Sachs recruits former Morgan Stanley banker Jaehoon Ahn for South Korea operations | Mint

Goldman Sachs has hired Jaehoon Ahn, a former Morgan Stanley employee, to lead its investment banking business in South Korea. Ahn will join as a managing director next month, having most recently served as VP and head of strategic planning at SK Bioscience. This move comes as part of a reshuffling of the Goldman team in South Korea, following the departure of former country and investment banking head David Chung. Ahn will also serve as co-country head and co-branch manager alongside Jae Joon Choi.

Related News

Microsoft eyes major stake once OpenAI becomes for-profit: WSJ

Inshorts · 9m ago

Microsoft eyes major stake once OpenAI becomes for-profit: WSJ

Microsoft and OpenAI are reportedly in talks over the stake the former will get in the AI startup after it converts into a for-profit organisation, the WSJ reported. Microsoft could reportedly get a major stake in exchange for its roughly $14 billion investment in OpenAI. The startup has hired Goldman Sachs as an advisor while Microsoft has hired Morgan Stanley.

Prosus-owned PayU targets India IPO filing in February, hires bankers

Economic Times

Economic Times · 1y ago

Prosus-owned PayU targets India IPO filing in February, hires bankers

Payment gateway provider PayU, owned by South African conglomerate Prosus, is planning to file for an IPO worth at least $500 million in India. PayU offers various services including buy-now-pay-later and competes with Razorpay and PhonePe. The company has appointed Goldman Sachs, Morgan Stanley, and Bank of America as advisors for the IPO, which is expected to value PayU at between $5 billion and $7 billion. The IPO is planned to be listed by the end of 2024.

IndiGo co-founder Rakesh Gangwal to sell up to 3.8% stake in the airline | Mint

Livemint

Livemint · 11m ago

IndiGo co-founder Rakesh Gangwal to sell up to 3.8% stake in the airline | Mint

Rakesh Gangwal, co-founder of IndiGo, plans to sell up to 14.7 million shares or a 3.8% stake in parent company InterGlobe Aviation through a block deal. The sale is estimated to be worth $804 million, with an offer floor price of ₹4593 per share. Gangwal's stake in InterGlobe Aviation is expected to decrease to 15.58% following the sale. The stake sale will be conducted by investment banks JP Morgan India, Goldman Sachs, and Morgan Stanley India. IndiGo is India's largest domestic airline with a 62% share of the market and a 16.9% share of the international market.

Motilal Oswal mutual fund offloads 4.5 Cr shares of Zomato in INR 621 Cr block deal

Inc42 · 1y ago

Motilal Oswal mutual fund offloads 4.5 Cr shares of Zomato in INR 621 Cr block deal

Motilal Oswal Mutual Fund has sold 4.5 crore shares of Zomato in a block deal worth INR 621.6 crore. The shares were purchased by BNP Paribas, Citigroup, Goldman Sachs, Morgan Stanley, and Societe Generale. Zomato's shares fell nearly 3% during early trading but ended the session 4.44% lower on the BSE. This comes after HSBC, Goldman Sachs, and Jefferies raised their price targets for Zomato due to expectations of strong growth in its food delivery and quick commerce verticals. Zomato reported profitable quarters in Q1 and Q2 of FY24.

Goldman Sachs targets $2 bn for first Asia PE fund; to invest in Japan, India

VCCircle

VCCircle · 1y ago

Goldman Sachs targets $2 bn for first Asia PE fund; to invest in Japan, India

Goldman Sachs aims to raise $2 billion for its first Asia Pacific-focused private equity fund, targeting investment opportunities in Japan, India, South Korea, and Australia. The fund aims to have its first close by the fourth quarter of this year. Private equity firms in Asia are adjusting their investment strategies due to geopolitical tensions, higher interest rates, market volatility, and macroeconomic challenges. Goldman Sachs' Asia private equity team, led by Stephanie Hui, has already deployed $17 billion across 242 investments in the region.

Block Deal Buzz: PB Fintech Shares Worth INR 920 Cr Change Hands

Inc42 · 1m ago

Block Deal Buzz: PB Fintech Shares Worth INR 920 Cr Change Hands

PB Fintech's cofounders, Yashish Dahiya and Alok Bansal, sold shares worth INR 920 crore via bulk and block deals. They earned INR 619.6 crore and INR 300.6 crore, respectively. The shares, representing 1.1% of the company's total equity, were purchased by major financial institutions, including Goldman Sachs, Morgan Stanley, Societe Generale, ICICI, Tata Mutual Funds, and Citigroup.

Goldman Sachs launches AI assistant firmwide, memo shows

Economic Times

Economic Times · 1m ago

Goldman Sachs launches AI assistant firmwide, memo shows

Goldman Sachs has launched a firmwide AI assistant powered by generative AI to enhance productivity, as per an internal memo. Already used by 10,000 employees, the GS AI Assistant assists in tasks like summarizing documents and data analysis. This move aligns Goldman with other major banks employing AI technology. Notably, Citigroup and Morgan Stanley have similar AI tools for internal and client interactions, while Bank of America's virtual assistant focuses on retail transactions.

SBI MF, Morgan Stanley, Goldman Sachs, and others buy 1.8% stake in Bajaj Finserv for Rs 5,506 Cr

YourStory

YourStory · 2m ago

SBI MF, Morgan Stanley, Goldman Sachs, and others buy 1.8% stake in Bajaj Finserv for Rs 5,506 Cr

State Bank of India Mutual Fund, Morgan Stanley, and Goldman Sachs collectively acquired a 1.8% stake in Bajaj Finserv for Rs 5,506 crore from promoters. Other institutional buyers included JP Morgan India and Citigroup Global. The sale involved 2.86 crore shares at Rs 1,925.20 each, reducing the promoters' stake to 58.84%. Separately, Wabco Asia sold a 3.16% stake in ZF Commercial Vehicle Control Systems India for Rs 792 crore, with multiple institutional buyers participating.

IndiGo co-founder Rakesh Gangwal to sell 3.3% stake in InterGlobe Aviation

Livemint

Livemint · 1y ago

IndiGo co-founder Rakesh Gangwal to sell 3.3% stake in InterGlobe Aviation

IndiGo co-founder Rakesh Gangwal is planning to sell 3.3% of his stake in InterGlobe Aviation Ltd through a block deal. The sale, estimated to be worth $450 million, will see Gangwal's stake decrease to 8.42%. It follows similar stake sales by Gangwal in the past. Morgan Stanley, JP Morgan, and Goldman Sachs will manage the sale on behalf of the promoter. IndiGo's stock has risen 67.35% in the past year. This move is part of Gangwal's plan to gradually reduce his stake in the company.

Paytm shares fall 3% to ₹875 after Antfin sells 3.6% stake

Money Control

Money Control · 1y ago

Paytm shares fall 3% to ₹875 after Antfin sells 3.6% stake

On Monday, the shares of One97 Communications, the parent company of Paytm, experienced a decline of approximately 3%, reaching a value of ₹875.05. This decline follows the sale of a 3.6% stake in the Indian startup by Antfin, the Netherlands-based subsidiary of Jack Ma's Ant Group. The stake was sold for ₹2,037 crore through open market transactions, with buyers including Goldman Sachs (Singapore), Morgan Stanley Asia Singapore, and Societe Generale.

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