Twitter on Tuesday named former Goldman Sachs investment banker Ned Segal as its new chief financial officer.

Segal takes over for Anthony Noto, Twitter's chief operating officer, who has been doing double duty as both COO and CFO since November. Noto will retain his COO duties, the social network said in a statement.

"He brings a principled, engaging and rigorous approach to the CFO role, with a track record of driving profitable growth," Twitter CEO Jack Dorsey said of Segal in a statement.

The move comes as Twitter tries to renew interest in its service, which at one time was the epitome of trendy and up-to-the-minute. But consumers now have many options for keeping up with friends, celebrities and the news, from an ever-expansive Facebook to hot alternatives such as Instagram and Snapchat.

Segal, 43, spent about 17 years at Goldman Sachs before moving on to serve as CFO for patent-risk management company RPX and senior vice president of finance at Intuit.

Twitter has been without a dedicated CFO since November, when Noto was promoted from CFO to COO following the departure of Adam Bain in November.

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