Goldman Sachs pivots Marcus strategy away from mass-market digital banking

Goldman Sachs signaled an acquisition thesis in Strategic pivot on October 18, 2022.

Primary

Goldman Sachs

Structure

Strategic pivot

Date

October 18, 2022

Sub-sector

Neobank

Major incumbent bank retreats from consumer neobank ambitions after execution failures, signaling difficulty of disrupting retail banking at scale.

Primary company

Goldman Sachs

Counterparty

Not disclosed

Amount

Not disclosed

Event date

October 18, 2022

Sub-sector

Neobank

HQ

Not disclosed

Structure

Strategic pivot

Source published

October 18, 2022

Publisher

NBC Connecticut / CNBC

Source: nbcconnecticut.com