Anthony Noto, a former executive with the Goldman Sachs Group Inc. (NYSE:GS), joined Twitter Inc. (NYSE:TWTR) as the company’s chief financial officer, it announced on Tuesday. Noto had previously helped Twitter file its initial public offering, or IPO, last November.
Noto was a highly ranked research analyst who returned to Goldman after two years of serving as the chief financial officer (CFO) for the National Football League, co-heading the firm’s global telecommunications, media and technology investment banking group. Noto helped Goldman underwrite more IPOs than any other firm in 2013, according to Reuters.
"Every banker talks about wanting to build a relationship, but after you do a deal with them, you are dropped like yesterday's newspaper," Ed DiMaria, CFO for Bankrate Inc. (NYSE:RATE), said after filing the company’s IPO with Goldman. "With Anthony, it's not about getting paid or the next deal -- it's about the relationship and how he can be helpful to the company."
Noto will be paid an annual salary of $250,000 and receive 1.5 million restricted shares of Twitter Inc. and an option to buy half a million more, according to a filing with the Securities and Exchange Commission. As of this writing, the stock is worth $64 million with the option to buy $21 million more.
After Twitter’s IPO, Noto left Goldman Sachs to join Coatue Management, a hedge fund. He was scheduled to begin there this week.
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â€” Anthony Noto (@anthonynoto) July 1, 2014
Twitter CEO Dick Costolo welcomed Noto in a tweet where he also announced that former CFO Mike Gupta has been named the company's new senior vice president of strategic investment.
Noto’s arrival comes at a turbulent time for Twitter’s executive team. Chloe Sladden, the company’s vice president of North American media, left Twitter last month, as did chief operating officer Ali Roqghani.