Goldman Sachs is to expand its online bank Marcus from the UK and into Europe , starting with Germany , according to Richard Gnodde , the head of the UK arm of the investment bank . He said much of the bank 's staff had already moved out of London because of Brexit , risks in the market and a private equity slowdown . The online bank will launch a UK banking product in June but has no plans to offer online banking in the country . Gnodde said Marcus will launch a savings product in June for U.K. customers but will hold off on launching consumer loans in the country until next year or beyond that. Additionally , Marcus may expand into credit cards , according to Goldman Sachs CFO Marty Smith .
Goldman Sachs is to expand its online bank Marcus from the UK and into Europe , starting with Germany , according to Richard Gnodde , the head of the UK arm of the investment bank . He said much of the bank 's staff had already moved out of London because of Brexit , risks in the market and a private equity slowdown . The online bank will launch a UK banking product in June but has no plans to offer online banking in the country . Additionally , Marcus may expand into credit cards , according to Goldman Sachs CFO Marty Smith .