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veteran real estate banker at Goldman Sachs has left the firm to join Jefferies, a smaller competitor. Todd Eagle is set to become Jefferies' US head of real estate, reporting directly to Michael Bluhm, who joined from Morgan Stanley last year. Jefferies brought in $1.6 billion in net revenue last quarter, significantly less than Goldman Sachs' $15 billion.

    Eagle's departure marks a significant loss for Goldman Sachs, which has seen him lead key deals during the pandemic, including advising Liberty Property Trust on its 107 million SF logistics portfolio sale to Prologis and Taubman Centers on its $7.5 billion sale to Simon Property Group. Eagle joined Goldman Sachs in 1990 as an investment analyst and has left twice before – once for business school and once to pursue other real estate opportunities.

    Eagle's career at Goldman Sachs spanned a period of significant growth in the real estate industry, which he witnessed firsthand. "When I joined the real-estate group, there was not a fully formed public market in real estate," Eagle said in a 2020 profile. "Over the years, real estate has become a full-fledged traditional sizable industry group."