SoftBank said to hire Goldman veteran for new investments unit

The SoftBank Group Corp. logo is displayed inside the lobby of a building which houses the company's headquarters in Tokyo, Japan, on Thursday, Nov. 29, 2018. Photographer: Kiyoshi Ota/Bloomberg

SoftBank Group Corp. hired Hiroki Kimoto from Goldman Sachs Group Inc. to lead a newly created investment unit, people familiar with the matter said.

Kimoto, an 18-year veteran of Goldman, will join SoftBank on Friday, the people said, asking not to be identified as the details are private. Representatives of SoftBank and Goldman Sachs declined to comment on Kimoto and any potential new business structure.

The 41-year-old’s hiring is the latest move by Chairman Masayoshi Son to transform the Tokyo-based company into a technology-focused investor with initiatives such as the near-$100 billion Vision Fund. Last month, SoftBank spun off its Japanese telecommunications business and is in the process of merging its U.S. carrier Sprint Corp. with a rival.

Kimoto, whose last title was managing director of the Asian Special Situations Group in the Securities Division, helped Goldman Sachs invest in Japanese golf courses, hot springs and distressed assets. He joined the New York-based bank in 2001 after graduating from Keio University.