Goldman Sachs Group Inc. analysts expect India's share of global equity market capitalisation to quadruple between now and 2075-reaching 12 per cent, when it will be neck and neck with China's
Montag, who had previously co-headed Goldman's securities division besides holding several other senior roles, would now be a part of the bank's audit, governance and risk committees
The firm had been actively tamping down expectations heading into the report, prompting analysts to slash their estimates for quarterly profit by almost half since mid-June
Nomura Funds, Goldman Sachs Funds, ICICI Prudential MF, HDFC MF and Nippon MF were among those who got an allotment
Goldman last year stopped personal loans under the Marcus brand and decided to wind down the $4.5 billion loan portfolio
In 2016, a report by Citizen for Tax Justice stated that over 370 companies out of Fortune 500 operate subsidiaries in tax haven nations
The report projected India's GDP at $52.5 trillion by 2075, behind China's $57 trillion but ahead of the US' $51.5 trillion
Goldman retains its market weight stance and sees Nifty50 at 20,700 by June, implying 6.7 per cent gain since Thursday's close at a record high of 19,497 points
The 12-member Goldman board is visiting India for its first meeting in the South Asia nation in more than a decade
Prime Minister Narendra Modi met Goldman Sachs' key leadership here on Wednesday and highlighted India's potential and opportunities to the leading global banking and investment firm. "Had a fruitful discussion with the members of the Board and key leadership of Goldman Sachs. Highlighted India's vast potential for growth, fuelled by recent reforms and a conducive business environment," the prime minister said in a tweet. Modi said he also spoke about the opportunities being offered by India for global firms.
Off the back of superior economic growth, EMs and the Indian capital market are expected to grow in stature over the decades to come
The US-based investment bank said the growth in EMs will continue to outpace that in the developed market, with 7 of the top 10 world economies becoming EMs by 2075
The moves are part of a deep cost-savings drive at the bank, which has seen at least three rounds of job cuts in less than a year
Shares of Goldman fell 1.4% in morning trading
The moves add to a February round of cuts that affected about 30 investment bankers in Asia, and followed similar moves by Goldman Sachs Group Inc. and Citigroup Inc. last week
India has been seen as one of the key beneficiaries as global sentiment toward Chinese equities soured due to a slower-than-expected recovery
India has roughly 1,600 of the centers, more than 40% of the number worldwide, according to Nasscom
Goldman Sachs has slashed its forecast for oil prices by nearly 10 per cent, citing weak demand in China and a glut of supply from the sanctioned countries, including Russia
Good Host Spaces is jointly owned by Goldman Sachs and Warburg Pincus
Some of the prominent Indian stocks that delivered over 10x total returns over a 5-year rolling period since 2000 include Westlife Foodworld, Bharti Airtel, Adani Total Gas, said the report