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Goldman Sachs (GS -1.3%$ 10M to manage their money. Marcus brand for clients beyond its traditional base of wealthy families, hedge funds, and governments, CNBC reports.
Ahead of the new product, Goldman is moving its Marcus brand into its investment management division, which will be renamed consumer and investment management. Until now, Marcus has been part of Goldman's investing and lending division.
Although the bank has not announced what the product will be, people with knowledge of the plans says that one option is a robo-advisor. The company could offer mutual funds and ETFs created in-house by its digital channel, CNBC says.
Marcus, Goldman 's consumer digital banking brand, currently offers high – interest savings accounts and personal loans.
Previously: Goldman is said to reduce Marcus lending goal for 2019: Bloomberg (Oct. 8)
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