Wall Street's hottest boutique investment bank just brought in a big hire from the NBA

Former NBA commissioner David Stern is taking his talents to PJT Partners, according to a report in the New York Times.

PJT is one of the newest boutique advisory firms on Wall Street.

It was set up by former Morgan Stanley dealmaker Paul Taubman, and later merged with the advisory businesses of the Blackstone Group and floated on the stock exchange.

PJT declined to comment when contacted by Business Insider.

For Stern, it's a return to the public spotlight after a long stint running the NBA, where he at times sparred with the league's most devoted fans.

Still, it's not unusual to see the former head of a professional sports league head to finance or a consulting role after their career in sports concludes.

Paul Tagliabue, who used to run the NFL until current commissioner Roger Goodell took the role, has a role with Promontory Financial Group, which provides services to Wall Street clients.

Wall Street has long had connections to pro hoops. A number of successful executives have investmented in NBA teams, and numerous pro and college hoopsters have gone on to successful careers in finance.

PJT went public at the beginning of this month. The firm's share price has struggled during its first month of life as a public company.