The grass is always greener… Three Goldman Sachs investment bankers leave for Uber
It's supposed to be one of the dream jobs for any banker, but three Goldman Sachs employees think the grass is greener… at Uber.
Three mid-level bankers from Goldman Sachs' technology investment banking group, based in San Francisco, have left to join Uber recently, which was first reported by Reuters.
The bank has always had a close relationship with Uber, and was one of its first corporate backers. Last year, the app hired Goldman Sachs' wealth management team to raise funds from the bank's high net-worth clients.
Read more: Business committee chair accuses Uber of being a "seedy backstreet minicab firm"
The bank is also one of the institutional investors, along with Fidelity Investments, Google Ventures, TPG Capital, BlackRock and Kleiner Perkins Caufield & Byers, who have invested some $1.5bn in the app.
Earlier this month, Goldman Sachs unveiled a range of initiatives to ensure its youngest employees aren't tempted to leave the business because of the industry's notoriously long hours and competitive environment.
“We hire a lot of young people,” David Solomon, co-head of Goldman’s investment-banking division, told The Wall Street Journal.
“We don’t need 100 per cent of them to decide they want to spend their whole careers at Goldman Sachs… we need a percentage of them to.”
The new measures include earlier promotions, less donkey work and faster global rotations, but apparently it wasn't enough for these three bankers.