Goldman Sachs is to expand its online bank Marcus from the UK and into Europe, starting with Germany, according to Richard Gnodde, the CEO 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 move will allow Goldman to focus on growing business outside London, he said. “We’re very focused on the better end of the credit spectrum, and that’s where we’ll stay,” he said in the interview. Additionally, Marcus may expand into credit cards, according to Goldman Sachs CFO Marty Chavez.
Goldman Sachs is to expand its online bank Marcus from the UK and into Europe, starting with Germany, according to Richard Gnodde, the CEO 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 move will allow Goldman to focus on growing business outside London, he said. Additionally, Marcus may expand into credit cards, according to Goldman Sachs CFO Marty Chavez.