Wall Street is losing talent war to Silicon Valley - New York Post

posted on 05 Aug 2015 01:42 by barbaroustablew56
Evans has been a totally independent director with Alibaba since its first public offering lastSeptember, which has been led by simply Lloyd Blankfein's Goldman.

Wall Street's tug-of-war using Silicon Valley more than best college graduates can be absolutely nothing new, however the string associated with top-level defections suggests a new phase inside the fight with regard to talent.

Another profession Wall Streeter is actually packing his bags and also heading West.

Michael Evans

Former Goldman Sachs executive Michael Evans, whom spent twenty years like a partner at the bankand served as its vice chairman via 2008 in order to 2013, ended up being named president associated with Alibaba group in Tuesday.

Alibaba is hoping that the Canadian along with Olympic champion rower will continue to work several magic as well as assist the Chinese e-commerce giant expand overseas.

"As we connect Alibaba as well as the remaining world, we are looking at a new verified international leader who may be connecting China and additionally the all the entire world regarding the vast majority of his career," Chairman Jack Ma stated in a statement.

Twitter CFO Anthony Noto quit Goldman Sachs a yr ago to adopt exactly the particular same job at the social media company.

Ruth Porat, the actual former Morgan Stanley finance chief, left the 28-year profession http://downinthevalley.co.uk in Wall Street firm to always be able to grow to be Google's CFO throughout March.

Airbnb hired away Blackstone CFO Laurence Tosi in July to become its finance head honcho.

Evans is actually at least the fourth top banker to be able to seek greener pastures. Other People include: