Goldman Sachs Group Inc. (NYSE:GS) managing director Byron Trott made a name for himself as a close adviser to Warren Buffet. His relationship is so close with Buffett that he reportedly was able to convince the billionaire to invest $5 billion in Goldman during its time of need last year.
Now, Trott is taking some of Buffett's money to leave the financial holding company to start his own merchant bank called BDT Capital Partners, according to The Wall Street Journal. Buffet told the Journal that he won't be the only investor in Trott's bank but could include other individuals the soon-to-be ex Goldman banker did business with.
The 50-year-old's new venture will invest in family controlled and entrepreneurial companies as well as provide investment advice to companies. -
Gerald Magpily
See thisismoney.co.uk articleSee Wall Street Journal article
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