World steel tycoon Laxmi Mittal is now on the board of the Wall Street banking giant Goldman Sachs, where his role will include overseeing bankers' remuneration and corporate governance.
He will be an independent director with immediate effect, the US group announced.
Goldman
Sachs' chairman and chief executive Lloyd Blankfein said Mittal had "reshaped a global industry and, in the process, has engineered new modes of production, identified unrealised value and sparked remarkable growth", The Independent said.
He is the second Indian on the board after Rajat Gupta, a senior partner at Mckinsey. Mittal is also a director of India's ICICI Bank and aerospace company EADS.
Interestingly, Mittal has also been on the international advisory board of one of Goldman's arch-rivals, Citigroup, but no longer holds this post.