Goldman Sachs Asset Management's CIO and portfolio manager of global emerging markets and India equity strategies, Prashant Khemka, has left the firm, according to a letter to GSAM's clients seen by Citywire Asia.
The letter noted that Khemka has left GSAM to pursue other opportunities.
Khemka will be replaced by Basak Yavuz and Hiren Dasani, who will become the fund house's new co-heads of emerging markets equity.
Yavuz is an executive director with 16 years of investment experience, serving as head of EMEA/LatAm equity. Dasani is an executive director with 15 years of investment experience, serving as head of India equity.
Dasani will relocate from Mumbai to Singapore and become co-lead portfolio manager with Yavuz of the global emerging market equity portfolio.
Dasani will also become lead portfolio manager of the India equity portfolios, continuing his role as a key leader and contributor to the strategy’s success over the past ten years.
GSAM has also appointed Sam Finkelstein, managing director and head of emerging market debt, to a newly created role of global head of emerging markets.
This new role will include his current responsibilities of leading emerging market debt and currency as well as the fundamental emerging market equity franchise.
Finkelstein and his team will be responsible for $47.1 billion of assets under management.
'We believe the leadership structure will help us better serve you by increasing collaboration amongst our investing teams,' noted the statement.
'There will be no change to the investment philosophy and process for our global emerging market equity and India equity portfolios as well as our emerging market debt investment process.'