- REUTERS/Tyrone Siu
SoftBank, the hyper-acquisitive Japanese telecommunications giant, has hired a top dealmaker from Goldman Sachs.
Ervin Tu will join the Tokyo-based firm as cohead of corporate finance and mergers and acquisitions for SoftBank Group International, alongside Alex Clavel.
Tu, who will be based in Silicon Valley, begins in September. Both coheads will report to Alok Sama, who is president and CFO of SoftBank Group International.
Before joining SoftBank, Tu was a managing director in Goldman Sachs’ technology, media, and telecommunications banking group in San Francisco.
He joined Goldman Sachs in New York in 2004 after earning an MBA from MIT’s Sloan School of Management, according to his LinkedIn profile.
He moved to San Francisco in 2007 and was named managing director in 2013.
SoftBank, under the leadership of founder Masayoshi Son, has acquired tech companies including Vodafone Japan, Sprint, and, earlier this month, the British semiconductor and software company ARM Holdings, which it bought for $32 billion.
It is also a major shareholder in the Chinese e-commerce behemoth Alibaba.
Investment banks have increasingly seen top dealmakers leave for the corporate companies they advise.
In the past year, JPMorgan’s Alejandro Vicente joined JAB Holdings, Morgan Stanley’s Alban de La Sabliere joined the French drugmaker Sanofi, JPMorgan’s Henry Gosebruch went to AbbVie, and Blackstone’s chief financial officer Laurence Tosi went to Airbnb.