Fintech Insider Podcast by 11:FS cover image

672. News: Will Goldman Sachs call time on Marcus?

Fintech Insider Podcast by 11:FS

00:00

Goldman Sachs Pulling the Plug on Marcus

Goldman Sachs is ready to ditch its ambitions to create a mass market digital bank as mounting losses at Marcus forced the investment bank into a retreat. Goldman Sachs's consumer business is set to lose $1.2 billion this year. This is despite the fact that the bank presented investors and analysts with a chart in early 2020 suggesting that the business would break even in 2022. Benjamin: Is this the end for Marcus or is it just a pivot towards the more profitable parts of the business?

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