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Goldman Sachs AM loses EM equity chief and creates new position

Goldman Sachs AM loses EM equity chief and creates new position

Citywire AA-rated manager and CIO for emerging markets equities Prashant Khemka has left Goldman Sachs Asset Management, Citywire has learned.

According to a shareholder letter seen by Citywire's European publication Citywire Selector, GSAM announced the change on April 19 with Sam Finkelstein, who is head of emerging market debt, moving into the newly-created role as global head of emerging markets.

Finkelstein will take on responsibility for all emerging market debt and equity operations, while Basak Yavuz and Hiren Dasani will be named as co-heads of emerging market equity.

Dasani will relocate from Mumbai to Singapore and take on responsibility for the Indian equity portfolios, as well as moving to assist Yavuz on the Global Emerging Market Equity portfolio.

It was not revealed where Khemka (pictured) was headed beyond ‘pursuing other opportunities’.

Commenting on the change, a GSAM spokesperson said: 'We believe the leadership structure will help us better serve you by increasing collaboration amongst our investing teams.

'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.'

Khemka joined the company in 2000 and oversaw three Ucits funds: Goldman Sachs BRICs Equity, Goldman Sachs EM Equity and Goldman Sachs India Equity.

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