NEW YORK and SAN FRANCISCO — Goldman Sachs technology investment banker Anthony Noto, who helped orchestrate Twitter’s successful IPO in November, is leaving and joining Coatue Management, according to a source familiar with the matter.
Goldman Sachs (GS) said in a memo to employees that Noto is leaving the firm but didn’t mention his move to the hedge fund.
It is unclear what role Noto, who won plaudits from Wall Street and Silicon Valley for leading the messaging service’s low-profile but smooth coming-out party, will play at Coatue. The source confirmed that Noto is joining the fund on condition of anonymity.
His contacts and experience were deemed key to netting the Twitter (TWTR) win for Goldman after Morgan Stanley snagged the much larger but far more troubled Facebook (FB) IPO in 2012.
Noto’s departure from Goldman comes just as China’s Alibaba is preparing what could the world’s largest technology IPO later this year. Goldman is helping manage the debut, along with Citigroup (C), Credit Suisse (CS), Deutsche Bank (DB), JPMorgan Chase (JPM) and Morgan Stanley (MS).
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Coatue has been investing more aggressively, getting into late-stage pre-IPO startups and competing with the likes of Rizvi Traverse and Tiger Global. The hedge fund has invested in startups, including Snapchat, storage service Box and ride-sharing concern Lyft. Coatue founder and manager Philippe Laffont once worked for legendary investor Julian Robertson.
Noto, a former Army ranger and National Football League executive, started as an analyst at Goldman and was among a number of analysts who touted stocks like Webvan and eToys that collapsed during the 2000 bust.
Dan Dees, appointed Goldman’s co-head of global technology, media and telecom in investment banking just this year, assumes sole charge of that division, according to a copy of an internal memo obtained by Reuters.
In addition, Goldman appointed Simon Holden, Nick Giovanni and Michael Ronen co-chief operating officers of the technology, media and telecom group; Holden oversees the global telecoms sector, while Giovanni does the same for the worldwide Internet industry. Ronen is in charge of Goldman’s media and telecoms mergers and acquisitions business in the Americas.
Goldman has played a key role in several recent technology mega-transactions, including acting as lead bookrunner for Apple’s (AAPL) $12 billion debt financing and advising on Microsoft’s (MSFT) acquisition of Nokia.
The news was first reported by tech blog Re/Code.
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