Byron Trott, a long-time Goldman Sachs banker and a trusted adviser to Berkshire Hathaway??s Warren Buffett, is leaving the company to start his own investment fund with backing from the billionaire.
The new venture, BDT Capital Partners, will invest in and advise family-run and entrepreneurial businesses. Berkshire will hold a ??modest partnership interest? in the firm, an assistant for Mr Buffett said.
Mr Trott has been singled out repeatedly by Mr Buffett for his skill in either advising Berkshire or bringing deals to his attention.
Berkshire said it would maintain a close association with both Goldman and Mr Trott, who becomes the latest senior Wall Street executive to leave their employer as the financial services industry wades through its steepest downturn in generations. Jon Winkelried, Goldman??s co-president, Morgan Stanley??s Bob Scully and Merrill Lynch??s Greg Fleming are among those to exit since the onset of the crisis.
