Anthony Noto Explained

Anthony Noto
Birth Name:Anthony Joseph Noto[1]
Birth Date:2 May 1968
Birth Place:Poughkeepsie, New York, US
Alma Mater:United States Military Academy
Wharton School of Business (MBA)
Known For:Former COO, Twitter
Occupation:Businessman
CEO, SoFi (Social Finance, Inc)
Term:2018–
Spouse:Kristin Noto
Children:5

Anthony Noto (born 2 May 1968) is an American businessman, the CEO of SoFi, and the former COO of Twitter.

Previously, he was a managing director at Goldman Sachs, CFO of the National Football League, COO of Twitter,[2] and head of Twitter Ventures.[3]

Early life and education

Anthony Noto is the son of Roseanne Niet (who died in 2015) and George Noto Sr. He has two siblings, George Noto and Thomas Noto. His brother Thomas died in 2018. He has 5 children with his wife, Kristin Noto. Noto graduated from Franklin D. Roosevelt High School in Hyde Park, New York. He attended the United States Military Academy at West Point, where he was a star linebacker on the football team, earning All-East and Academic All-American honors. In 1991, Noto was the highest-ranked mechanical engineering major in his graduating class.[4] After graduating from Army Ranger School at Fort Benning, Noto served as a Communications Officer with the 24th Infantry Division in Fort Stewart, Georgia.[4]

After serving in the military, Noto attended business school at the University of Chicago, while working at Kraft Foods as a brand manager, and later received an MBA from the Wharton School of Business in 1999.[4]

Career

Goldman Sachs and NFL

Noto joined Goldman Sachs in 1999 and was voted the top analyst by Institutional Investor magazine for research on the Internet industry.[5] Noto led the firm’s communications, media and entertainment research team at Goldman Sachs. He became a managing director in 2003, and a partner in 2004.[6]

On 24 February 2008, Noto took over the job of CFO for the National Football League, a position left vacant since former CFO, Barbara Kaczynski, left in February 2003.[5] Noto held the position until October 2010, but left just prior to the negotiations which led up to the 2011 lockout. He returned to Goldman Sachs in October 2010 as the co-head of Goldman’s global media group.[7] In 2013, Noto helped the company win the role of lead underwriter for Twitter's initial public offering.[8] Noto would work as the main banker dealing with Twitter.[9]

Coatue and Twitter

In May 2014, Noto announced that he would be leaving Goldman Sachs to join the New York-based hedge fund Coatue Management LLC.[10] However, on 1 July 2014, Twitter CEO Dick Costolo announced that Noto would join Twitter as the company's CFO.[11] The two men built a good relationship the previous year when Noto managed Twitter's account while at Goldman Sachs.[9] In 2014, Noto received total compensation of $73 million.[12]

SoFi

On January 20, 2018, it was confirmed that Noto was leaving Twitter to become the CEO of SoFi (Social Finance, Inc.).[13] [14] In 2019, Noto closed a 20-year naming rights deal with the Los Angeles Rams and Los Angeles Chargers; the stadium was named SoFi Stadium and hosted Super Bowl LVI.[15] Noto initiated the firm’s IPO in June 2021,[16] trading at $8.65 billion.[17] Noto oversaw SoFi's purchase of Galileo Financial Services in 2020, Technisys SA in 2022 and Wyndham Capital Mortgage in 2023.[18] [19]

Notes and References

  1. Web site: Anthony Joseph Noto . West Point Association of Graduates . 21 April 2022.
  2. Web site: Company Appoints Anthony Noto as COO. 9 November 2016.
  3. News: Hughes. Chase. Twitter's New Venture Capital Fund. March 27, 2015. March 27, 2015.
  4. Web site: The NFL's Money Man. Hyland. Tim. Wharton Magazine. 1 September 2009. 30 November 2014.
  5. Web site: NFL Taps Goldman Partner as CFO. Stephen. Taub. CFO Magazine. 16 January 2008. 30 November 2014.
  6. Web site: Goldman Sachs' Anthony Noto Will Talk Technology Investments At Disrupt NY. Leena. Rao. TechCrunch. 19 April 2013. 30 November 2014.
  7. Web site: NFL will negotiate with players' union minus CFO Noto. Jason. La Confora. NFL.com. 20 September 2010. 30 November 2014.
  8. Web site: Goldman Sachs wins prime role in Twitter IPO. Financial Times. 1 April 2014. Arash Massoudi. Tracy Alloway. September 13, 2013. Goldman has now scored one of the biggest tech prizes around..
  9. Web site: Goldman Banker With Year's Top Tech Quarry. Gelles. David. The New York Times. 3 October 2013. 30 November 2014.
  10. Web site: Top Goldman Sachs Tech Banker to Leave Firm. The Wall Street Journal. Julie. Steinberg. 13 May 2014. 30 November 2014. subscription.
  11. Web site: Former-NFL CFO to help run Twitter IPO. Brett. Molina. USA Today. 1 July 2014. 30 November 2014.
  12. News: Lynn. Kerry. Twitter's New CFO Anthony Noto Earned $73 Million In 2014. 21 April 2015. IBT. 21 April 2015.
  13. News: Rudegeair . Peter . January 20, 2018 . SoFi Offers CEO Spot to Twitter Executive Anthony Noto . . The New York Times, New York City, United States . January 21, 2018.
  14. News: Top Twitter executive leaves to join SoFi. BBC News . 27 February 2018. 27 February 2018.
  15. News: Beachamap . Greg . SoFi Stadium: Naming rights sold for Los Angeles’ new arena . AP News . 15 September 2019.
  16. News: Smith . Page . SoFi Once Billed Itself as the Anti-Bank. Now It’s Going Mainstream . Bloomberg . 30 June 2023.
  17. News: Franklin . Joshua . Sen . Anirban . Hu . Krystal . Online lender SoFi to go public through merger with Palihapitiya-backed SPAC . limited . . 7 January 2021.
  18. News: Irrera . Anna . Student lender SoFi to acquire Galileo Financial Technologies for $1.2 billion . limited . . 7 April 2020.
  19. News: Rudegeair . Peter . SoFi to Buy Banking-Infrastructure Firm Technisys for About $1.1 Billion . subscription . . 22 February 2022.