Goldman Sachs is reportedly in advanced talks with possible buyers for its FinTech lender GreenSky. As the Wall Street Journal (WSJ) reported Tuesday (Sept. 19), the Wall Street bank is in discussions to sell GreenSky to a group of firms that include Sixth Street, Pacific...
Goldman Sachs has reportedly completed a $1 billion loan sale to the investment firm Varde as part of its plans to exit from its Marcus consumer loan business. Varde bought the loans from Goldman at a price that was labeled as a discount to face value, Bloomberg reported Thursday (July 13), citing...
The banking industry is facing several challenges concerning consumer deposits, according to Jennifer Piepszak, co-CEO of JPMorgan Chase’s consumer and community banking unit. Piepszak has predicted that consumer deposits will be “slightly down from here” due to factors such as the Federal Reserve’s quantitative tightening program...
It is apparently a good time to be an online bank. As The Wall Street Journal reported Saturday (June 3), these banks took in more deposits than they lost so far this year while regional lenders like Truist, Citizens Financial and PacWest saw their deposit numbers fall....
January 13, 2023
Marcus aside, Goldman Sachs has heavy lifting ahead as the Wall Street giant pursues embedded finance. As reported in SEC filings from Friday (Jan. 13), Goldman has detailed how it will document financial and operating performance on a go-forward basis with new segment reporting. Within the Asset and Wealth Management business, we’ll see how the […]
January 05, 2023
Banks risk losing customers to neobanks — and a key battleground may lie with savings accounts. And in that case, the advantage may go to the traditional financial institutions (FIs),...
October 10, 2022
The best-laid plans, wrote the poet Robert Burns, oft go astray. We’re paraphrasing here, of course. But the poetic sentiment remains apt, given the recent reports that Wall Street giant...
August 23, 2022
In financial services, as in pretty much any vertical, there’s a concept known as the race to the bottom. Generally speaking, we might view this as a jockeying among firms...
May 13, 2025
Goldman Sachs Group is reportedly considering expanding its retail bank, Marcus, to Ireland and Germany. The company has held early-stage discussions with Irish regulators and is taking another look at Germany, where it once planned to launch in 2019, Bloomberg reported Tuesday (May 13), citing unnamed sources. “Our award-winning Marcus deposits platform delivers high levels […]
September 20, 2023
Goldman Sachs is reportedly in advanced talks with possible buyers for its FinTech lender GreenSky. As the Wall Street Journal (WSJ) reported Tuesday (Sept. 19), the Wall Street bank is...
July 13, 2023
Goldman Sachs has reportedly completed a $1 billion loan sale to the investment firm Varde as part of its plans to exit from its Marcus consumer loan business. Varde bought the loans from Goldman at...
June 13, 2023
The banking industry is facing several challenges concerning consumer deposits, according to Jennifer Piepszak, co-CEO of JPMorgan Chase’s consumer and community banking unit. Piepszak has predicted that consumer deposits will be...