Goldman Technology Banker Noto to Join Hedge Fund Coatue

Anthony Noto, Goldman Sachs Group Inc.’s head banker on Twitter Inc.’s initial public offering last year, is leaving to join hedge-fund firm Coatue Management LLC.

Dan Dees, who became co-head of technology, media and telecommunications banking with Noto earlier this year, will become sole leader of the group, according to an internal memo. David Wells, a spokesman for the New York-based firm, confirmed the contents of the memo.

Goldman Sachs was the top-ranked adviser on mergers and acquisitions involving technology, media and telecommunications companies last year, according to data compiled by Bloomberg. Noto, 46, rejoined the firm in 2010 after leaving in 2008 to become chief financial officer of the National Football League.

Coatue, which manages about $9.2 billion, was founded in 1999 by Philippe Laffont, who worked for Julian Robertson at Tiger Management LLC, according to a regulatory filing last month. Coatue managed the 20th-most-profitable hedge fund in the world last year, according to Bloomberg Rankings. The New York-based firm has made investments in technology companies such as Snapchat Inc. and Flipboard Inc.

“Anthony is a key addition to our private investing effort, helping us build on the momentum we have established,” Laffont said in an e-mailed statement.

Noto’s move was reported earlier today by website Re/Code.

‘Big Personalities’

Simon Holden, Nick Giovanni and Michael Ronen will become co-chief operating officers of the group at Goldman Sachs, according to the memo. Holden runs the telecommunications sector and leads the TMT group in Europe. Giovanni is head of the Internet sector, while Ronen leads the media and telecommunications M&A business in the Americas.

Dees was co-head of the investment-banking division for Asia Pacific ex-Japan before moving back to the U.S. to take the TMT job. George Lee and Gene Sykes will remain co-chairmen of the TMT group, according to a memo sent by investment banking co-heads Richard Gnodde, David Solomon and John Weinberg.

“Deals in technology, media and telecom are really interesting to the world, they involve really big personalities,” Lee said in a March interview. “It’s a big revenue and profit contributor, and it’s so high-profile that our success there has an overweight impact on the way people perceive our overall franchise.”

West Point

Noto, a football player at the U.S. Military Academy at West Point, New York, trained to be a member of the Army Rangers and spent time in the Middle East while serving as a signal officer in the infantry. He was a research analyst covering Internet companies in his first stint at Goldman Sachs.

Since returning to the firm, Noto has competed with Morgan Stanley (MS) for the lead spot on a string of high-profile IPOs. Goldman Sachs led the offerings for Yelp Inc. and Twitter, while Morgan Stanley won the prime spot on LinkedIn Corp. and Facebook Inc.

“My last four years at Goldman Sachs have been as equally rewarding as the first nine years,” Noto said in an e-mailed statement. “The TMT franchise has never been stronger and I look forward to seeing the continued success of such a fantastic team and to working with the firm as a client.”

To contact the reporter on this story: Michael J. Moore in New York at mmoore55@bloomberg.net

To contact the editors responsible for this story: Peter Eichenbaum at peichenbaum@bloomberg.net Steven Crabill, Steve Dickson

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