Ride-sharing company Uber recently lured away three mid-level tech bankers from the investment banking firm, Goldman Sachs.
It's the latest example of the tech world poaching Wall Street for talent. Google's parent company Alphabet lured away Ruth Porat from Morgan Stanley, where she was a chief financial officer. Alibaba recruited Michael Evans from Goldman Sachs, where he was a vice chairman.
Bankers are often attracted to the change because of stock options, share grants, and the flexible hours that come with these new jobs. For tech companies, having bankers on staff can help smooth the path to an initial public offering and raise capital.
Goldman has lost so many employees to startups and private equity firms that it's working on promoting junior bankers faster in an attempt to retain them.