A Singapore-based Goldman Sachs executive director has move into a corporate development job, in a potential sign of the growing allure of these in-house roles at tech firms in the Republic.
Nikhil Taneja is now head of corporate development at Inshorts Group, which operates content distribution tech platforms across India, the US, UK, UAE, Canada, and Southeast Asia.
Taneja had been with Goldman for almost 10 years, latterly as head of technology investment banking for Southeast Asia, according to his LinkedIn profile. After joining GS in India, he held several roles at the US firm in Hong Kong and Singapore, with a focus on technology, media, and telecommunications (TMT).
At Inshorts, Taneja is leading corporate development, M&A, investor relations, and fundraising.
As technology firms expand their headcounts in Singapore, using the city state as a beachhead to Southeast Asian markets, technology sector bankers like Taneja are well placed to take on corporate development roles.
Making the move in-house is appealing to some bankers because the hours are potentially shorter, and there’s the opportunity to help build a business, and the prospect of a large pay-out in the event of an initial public offering.
By contrast, in Hong Kong – where the brain drain to the corporate sector began years earlier – some TMT dealmakers are now returning to banking. Morgan Stanley recently hired the former director of corporate finance at Alibaba, Henry Tsai, to run its internet investment banking team for APAC, for example.
Photo by Jim Wilson on Unsplash
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