Goldman Sachs hotshot Anthony J. Noto is leaving the investment banking giant to join a hedge fund.
The New York Times reported that Noto, who was Goldman’s global co-head of technology, media and telecommunications banking, plans to join New York-based Coatue Management as a senior managing director.
Noto--who has won big-name technology business for Goldman such as Twitter, Spotify and Dropbox—will be responsible for helping Coatue make investment decisions regarding start-up firms. Noto will start at Coatue this summer.
The article added that Noto’s departure is a blow to Goldman as he is considered one of the bank’s top technology advisers.
eVestment reported last month that Caotue had plans to return more than $2 billion back to investors from its $7 billion flagship fund, explaining that the liquidation was so the firm can “focus on returns and [not] become asset gatherers.”
Coatue was founded in 1999 by former Tiger Management employee Philippe Laffont.