Marcus president Harit Talwar retires in October

When Harit Talwar joined Goldman Sachs in 2015, personal banking was just an idea for the old financial institution. Now, after making Marcus a profitable FinTech and handing over the reins to a new leader, Talwar is leaving the bank next month to retire.

“Six years ago, I quit a big job at a big company to be the first employee of an idea – that Goldman Sachs could build a modern consumer company. A lot of people thought I had lost my mind, ”Talwar said in a LinkedIn post on Friday September 24th.

“How often do you have the opportunity to build a modern digital business within a preeminent 150 year old investment bank? We had the audacity to think big, and it’s safe to say we proved the skeptics wrong, ”he said.

See also: Uber’s Nahar Called To Head Goldman’s Marcus Division

Marcus of Goldman Sachs – named after the founder of the old institution in 1869 – now has more than eight million customers, $ 100 billion in deposits, nearly $ 10 billion in card and loan balances and 1.5 billion. billion dollars in execution rate revenue, he said.

The consumer banking division has also partnered with some of the world’s biggest brands, including Apple, Amazon, Walmart, JetBlue, AARP, General Motors and more, he added.

Prior to Goldman Sachs, Talwar was President of US Cards at Discover, a company he worked with for over 11 years.

To prepare Marcus for his departure, Talwar asked his deputy Omer Ismail to take the reins. Ismail, however, quickly left to lead Walmart’s FinTech startup. Marcus is now headed by former Uber executive Peeyush Nahar, who joined Goldman earlier this year.

Read more: Walmart creates a FinTech start-up

Marcus is now the second largest challenger bank, according to Autonomous Research.

Although Marcus became available in the UK in 2018, Goldman plans to launch a robotics consulting service there in the first quarter of 2022. The UK has less than a third of the $ 100 billion in deposits Marcus has. around the world, PYMNTS reported.

You may also like: Goldman Planning 2022 UK Launch of the Marcus application, Robo-Adviser

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NEW PYMNTS DATA: TODAY’S SELF-SERVICE PURCHASE JOURNEY – SEPTEMBER 2021

On: Eighty percent of consumers want to use non-traditional payment options like self-service, but only 35 percent were able to use them for their most recent purchases. Today’s Self-Service Shopping Journey, a PYMNTS and Toshiba Collaboration, analyzes more than 2,500 responses to find out how merchants can address availability and perception issues to meet demand for self-service kiosks.

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