Goldman Sachs is looking to launch an online deposit business next year in the UK, as part of plans to build its retail banking presence.
According to the Financial Times, the firm now wants to replicate the mass-market success it has enjoyed in the US in the UK. In the US, it offers a high-interest online savings account and a digital consumer lending platform called 'Marcus by Goldman', which has generated over $1bn in loans. Now it plans to launch in the UK under the Marcus brand but would also consider buying a book of deposits. Over time, the firm said, this could expand further to include a consumer lending arm. Stephen Scherr, head of strategy at Goldman Sachs, said: "Much like in the US, we are aiming to offe...
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