Goldman’s consumer focus with its Marcus brand has it taking up more resources, more time, and more people. The bank has allocated billions of dollars to build out its consumer arm, but payback on that investment isn’t expected anytime soon.
Goldman’s consumer business, which includes Marcus as well as the bank’s credit card, generated $822 million in revenue over the four quarters ended Sept. 30, representing just 2.4 percent of the bank’s total revenue during the period. Goldman launched Marcus as part of a broader strategy that was initially expected to generate $5 billion in fresh annual revenue by entering new businesses and growing existing ones.
In the buildup to the launch of the Apple Card, we looked at the Apple team behind the new product. Seeing the composition of a leadership team is helpful to get some insight into all the skillsets involved. Examining the experiences and perspectives that get invested into new products and services can give outsiders a taste of where the business is ultimately headed.
Here’s a who’s who of the Marcus by Goldman Sachs team.
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