A veteran real estate banker at Goldman Sachs has left the firm to join a smaller competitor: Jefferies.

Todd Eagle is set to join New York-based Jefferies as its U.S. head of real estate, the New York Post reported.

He will report to Michael Bluhm, the firm's global head of real estate for gaming, lodging and leisure, who joined Jefferies last year from Morgan Stanley. Jefferies, an investment banking and capital markets firm with 40 offices worldwide, brought in $1.6B in net revenue last quarter, while Goldman Sachs brought in $15B.

Jefferies declined to comment, and Goldman Sachs didn't respond to Bisnow's request for comment.

At Goldman Sachs, Eagle focused mainly on single-family rentals, REITs, proptech and private equity, Business Insider reported in 2020.

Eagle was one of the firm's leading real estate players during the pandemic, including advising Liberty Property Trust in its 107M SF logistic portfolio sale to Prologis and Taubman Centers in its $7.5B sale to Simon Property Group.

Eagle first joined Goldman Sachs in 1990 as an investment analyst and has left the firm twice in the past — once for business school and once to focus on other real estate investment opportunities.

"When I joined the real-estate group, there was not a fully formed public market in real estate. Much of what we did was project finance and asset sales and financing," Eagle said in the 2020 Business Insider profile. "Over the years, real estate has become a full-fledged traditional sizable industry group."