Goldman Sachs hires Uber tech executive to run consumer bank after string of defections

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Middle East
  • Date: 17-May-2021
  • Source: CNBC
  • Sector: Economy
  • Country: Middle East
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Goldman Sachs hires Uber tech executive to run consumer bank after string of defections

Has a new head for its retail banking division. The firm lured , an technology executive and 14-year veteran of , to take over the role vacated when Omer Ismail left in February, Goldman told employees Monday in an internal memo. The move should shore up concerns over leadership at Goldman's fledgling consumer division. The bank created Marcus in 2016 to make its first foray into the consumer banking realm. Yet just as the division began to pick up steam, garnering billions of dollars in deposits and rolling out new like personal finance tools and an automated investment tool, it was struck with defections. After Ismail and a top deputy left to join 's new fintech start-up, a string of other executive followed, including the chief financial officer and head of product for the consumer bank, which includes the Marcus brand and a growing stable of partnerships including the Apple Card. At Uber, Nahar led a global engineering division across fintech, insurance, payments and infrastructure, according to the Goldman memo, which was reported on earlier by Dow Jones. He begins at Goldman next month. "Peeyush will lead the business in its next phase of growth, helping drive forward our commitment

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