Goldman hires Deutsche analyst to co-head software team

Thu May 9, 2013 12:24am EDT
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By Nicola Leske

(Reuters) - Goldman Sachs Group Inc (GS.N: Quote) has hired Deutsche Bank (DBKGn.DE: Quote) 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.

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 the bank's technology group has lost a number of key bankers in recent months, including former Internet and new media chief Scott Stanford and software chief Ned Segal.

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