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Indian-origin steel magnate Lakshmi Mittal has joined the board of the investment bank major Goldman Sachs as an independent director.
The company announced that Mittal had joined as an independent director, and had joined the its audit, compensation and corporate governance and nominating committees.
Mittal, who has been a long-time client of Goldman Sachs, is the companys tenth independent director on its 13-member board.
"Lakshmi's experience judgment and independent thinking represent an important addition to our board of directors, and will be of tremendous value to our people, our shareholders and our clients," Lloyd Blankfein, Goldman's chairman and chief executive officer, said.
Goldman Sachs has recently intensified its interaction with investments in India. It bought a minority stake in Mahindra & Mahindra this year and invested $50 million in the Indian engineering company Sterling & Wilson last month.