Goldman Sachs Predicts $144 Billion Starlink Revenue, India Co-Chair Retirement
GS•Goldman Sachs India co-chairman Gunjan Samtani will retire at year-end, with Ken Castelino and Balaji Sivasubramanian stepping up as co-heads in Bengaluru and Hyderabad. CEO David Solomon said AI-driven efficiencies may modestly trim entry-level hiring despite 2,400 interns, and GS forecasts Starlink could earn $144 billion by 2030.
1. Leadership Transition in India
Gunjan Samtani, Goldman Sachs’ co-chairman for India and head of its India global centre, will retire at the end of this year. He will remain in the co-chairman role until December, after which Ken Castelino and Balaji Sivasubramanian will assume joint leadership of all Bengaluru and Hyderabad operations.
2. Profiles of Successors
Ken Castelino, head of Global Banking & Markets – Public in India and co-head of Global Equities Electronic Trading Strats and Engineering, joined as an associate in 2006 and became partner in 2016. Balaji Sivasubramanian, head of Engineering in India and global head of Enterprise Partnerships Engineering, has been with the firm since 2000 and was made partner in 2022.
3. AI's Impact on Hiring
CEO David Solomon indicated AI-driven tools will bring nuanced changes and could modestly contract entry-level hiring over the next three years. Despite this, the bank plans to onboard at least 2,400 interns this year, matching pre-pandemic levels to maintain talent pipelines.
4. Starlink Revenue Projection
Goldman Sachs projects SpaceX’s Starlink could generate $144 billion in revenue by 2030, forming part of a broader estimate of $474 billion in SpaceX sales. The forecast highlights GS’s bullish outlook on satellite internet growth and its potential market opportunity.
