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Goldman hires Deutsche analyst to co-head software team

A Goldman Sachs sign is seen on at the company's post on the floor of the New York Stock Exchange, January 18, 2012. REUTERS/Brendan McDermi
A Goldman Sachs sign is seen on at the company's post on the floor of the New York Stock Exchange, January 18, 2012. REUTERS/Brendan McDermi

By Nicola Leske

(Reuters) - Goldman Sachs Group Inc has hired Deutsche Bank senior equity analyst Tom Ernst as a managing director to co-head its software banking team, a company spokesman said late on Wednesday.

Ernst will be based in San Francisco starting early July and will lead the division with Ward Waltemath, the spokesman said, confirming a Reuters report earlier in the day.

Ernst, who has covered the software industry for 14 years, said on his LinkedIn profile that he would join the investment bank as global co-head of Software Investment banking in July.

Ernst had worked at Deutsche Bank for 9 years, his LinkedIn profile showed.

Ernst joins Goldman Sachs after some members of the bank's technology group left investment banking earlier this year to pursue industry careers, including former Internet and new media chief Scott Stanford and software chief Ned Segal. Stanford went on to help form a venture capital firm called Sherpa, while Segal joined RPX Corp as chief financial officer.

(Reporting by Nicola Leske in New York; additional reporting by Olivia Oran; Editing by Richard Chang)

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