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