Top tier industry veterans from Wall Street continue to take jobs with startups. Blackstone's CFO, Laurence Tosi, is the latest example as he has takes on the CFO role with Airbnb. He joins a number of other Wall Street executives who have made the move including, Anthony Noto who recently left Goldman to join Twitter and Ruth Porat who left Morgan Stanley for Google.
Blackstone Group LP said Friday that its chief financial officer, Laurence Tosi, is leaving the private-equity firm to become finance chief at Airbnb Inc., the booming home-rental service. He is just the latest Wall Street executive to move west to take advantage of massive investor interest in fast-growing companies seeking to upend entire swaths of the economy. Mr. Tosi, 47 years old, has made a good living by any standard since he joined Blackstone following its 2007 initial public offering. He earned about $15 million last year, according to filings, and $33.8 million over the past three years, not including dividends and some other perks, such as proceeds from investments made in the firm’s funds. Yet those sums will likely appear paltry next to his winnings should Airbnb pull off a successful IPO in coming years, as many analysts expect.