Singapore's sovereign investment firm, Temasek Holdings, has appointed former Khaitan & Co partner Aman Dwivedi as its Vice President for Legal and Regulatory in India. This strategic hire bolsters Temasek's internal legal team as it accelerates its investment activities across the rapidly growing Indian market. The move underscores the increasing importance of sophisticated in-house legal counsel for major global investors operating in the region.
Strengthening In-House Legal Capabilities
Dwivedi brings nearly a decade of experience from Khaitan & Co, where he specialized in private equity, venture capital, and cross-border mergers and acquisitions. His transition from a top-tier law firm partner to a key in-house role provides Temasek with deep transactional expertise. This appointment is crucial as the firm navigates complex deals and a dynamic regulatory environment in one of its most significant markets.
A Broader Industry Trend
Dwivedi's move is indicative of a larger trend within India's legal sector, where senior lawyers are increasingly migrating from prestigious law firms to corporate roles. In recent months, similar high-profile transitions have included partners from firms like Shardul Amarchand Mangaldas & Co and Cyril Amarchand Mangaldas joining major corporations. This pattern highlights a growing preference for roles that offer direct involvement in corporate strategy and operations.
The Evolving Role of Corporate Counsel
Experts suggest this shift is driven by a desire for greater influence on business outcomes, moving away from the traditional law firm model focused on billable targets. Senior legal professionals are now seeking to become integral stakeholders in risk management, governance, and strategic decision-making. This evolution reflects the maturation of corporate India, where legal departments are no longer just support functions but core strategic partners.
Temasek's Strategic Focus on India
For Temasek, strengthening its internal legal firepower is a timely decision given its expanding footprint in India. The country now represents approximately eight percent of the firm's global investments, with a portfolio valued at around $50 billion. Temasek is actively deploying between $3-4 billion annually in India, targeting opportunities in financial services, healthcare, and digitization.
Dwivedi's expertise will be instrumental in overseeing the legal and regulatory aspects of these significant investments. His appointment ensures that Temasek has robust internal oversight for its complex cross-border transactions and portfolio management. This move aligns with the firm's strategy to deepen its local capabilities and manage its growing exposure to the Indian economy effectively.
In conclusion, Aman Dwivedi's appointment at Temasek highlights the firm's strategic commitment to India and a broader evolution within the country's legal profession. The move signals a deeper integration of legal expertise into corporate strategy, reshaping the landscape for both law firms and in-house teams. As global investors expand their Indian portfolios, the value of seasoned in-house counsel is clearly on the rise.