Goldman hires Deutsche analyst to co-head software team

Wed May 8, 2013 6:10pm EDT

May 8 (Reuters) - Goldman Sachs Group Inc has hired Deutsche Bank senior equity analyst Tom Ernst as a managing director to co-head its software banking team, a source familiar with the matter said on Wednesday.

Ernst will be based in San Francisco and lead the division with Ward Waltemath, the person said, asking not to be named because the matter is not public.

Goldman Sachs declined to comment.

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 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.