Tags: twitter | coo | anthony noto | sofi

Twitter COO Anthony Noto Exits to Take CEO Job at SoFi

Image: Twitter COO Anthony Noto Exits to Take CEO Job at SoFi
(Mohamed Ahmed Soliman | Dreamstime)

Tuesday, 23 January 2018 09:53 AM

Anthony Noto has resigned as Twitter's COO, after accepting the CEO role at finance startup SoFi.

Twitter shares dropped 2.5% in premarket trading on the news. Reports that Noto was considering leaving Twitter to join SoFi circulated late last week.

Twitter said Noto's responsibilities for business operations and revenue generating operations will be assumed by other members of Twitter's leadership team. Matt Derella, Twitter's VP of global revenue and operations, will continue to lead the company's advertising sales efforts.

"Anthony has been an incredible advocate for Twitter and a trusted partner to me and our leadership team," Twitter CEO Jack Dorsey said in a statement. "On behalf of the entire team, I want to thank Anthony for his passion and his impact, and congratulate him on his new role."

Noto is joining SoFi effective March 1 as CEO and a member of its board. Interim CEO Tom Hutton, who also has been serving as executive chairman, will become non-executive chairman of the board.

"We are simply thrilled to have found someone of Anthony's expertise and knowledge to lead SoFi," Hutton said in a statement. "The SoFi board unanimously agrees that Anthony's deep understanding of technology, consumer, and financial businesses make him the perfect fit to be SoFi's CEO. We could not be more excited to have someone of his caliber on board."

Noto had served as chief operating officer since November 2016, after joining as CFO in July 2014. Before Twitter, Noto served for almost four years as co-head of global TMT investment banking at Goldman Sachs. He joined Goldman Sachs in 1999, was named partner in 2004, and served as the head of communications media and Internet equity research. Before returning to Goldman, Noto spent almost three years as chief financial officer of the National Football League. A graduate of the U.S. Military Academy, Noto has an MBA from the University of Pennsylvania's Wharton School.

"I'm grateful to the SoFi board for this extraordinary opportunity to lead one of the most important new companies at the intersection of technology and finance," Noto said in a statement. "SoFi has a significant opportunity to build on its leadership position in student and personal loans to revolutionize consumer finance and build a next-generation financial services company. I'm excited to work with Tom and the rest of the SoFi team."

© 2018 Thomson/Reuters. All rights reserved.

   
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Twitter shares dropped 2.5% in premarket trading on the news. Reports that Noto was considering leaving Twitter to join SoFi circulated late last week.
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2018-53-23
Tuesday, 23 January 2018 09:53 AM
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