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Goldman Sachs MD leaves for TMT investor relations, again

With IPOs less plentiful than they used to be, equity research roles are less secure than before. Senior equity researchers are still making a break, and the obvious places to escape to are the firms they covered as analysts. 

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Brett Feldman, a managing director and telecoms analyst at Goldman Sachs in New York, has left for AT&T, the telecoms company, where he'll be head of investor relations. Feldman spent 10 years at Goldman and covered AT&T among his stocks. He last gave it a buy rating.

Feldman is far from the only equity analyst – or Goldmanite – to go into investor relations. IBM’s head of investor relations, Olympia McNerney, joined the company from Goldman’s ECM team in New York. Investor relations also been a popular work destination for former Credit Suisse analysts.

Investor relations isn’t for everyone, though. An equity researcher on our website strongly recommended against moving into the field, citing both the pay cut involved as well as the sales aspect of it. “Equity researchers are better than that,” he told us.

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AUTHORZeno Toulon

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