Write For Us

‘A Strategic and Financial Fail:’ How Goldman Sachs Fumbled Its Consumer Bet | WSJ

Sponsored Post Vitamin D2 Canada Persia
145 Views

  • Thanks! Share it with your friends!

    You disliked this video. Thanks for the feedback!

ava
Published
When Goldman Sachs entered the credit card space in 2019 with a partnership with Apple, many consumer banks were concerned that a new competitor had emerged. But just four years later, the firm is pulling back. The banking giant’s move from Wall Street to Main Street came at a time when Goldman wanted to diversify its funding sources. It introduced a high-yield savings account with Marcus and rolled out personal loans. But what was the turning point that led them to start to retreat from this space?

WSJ explains why Goldman Sachs entered consumer finance and what the firm pulling back means for the company as a whole.

0:00 Goldman Sachs isn’t used to failing
0:20 Entering the consumer space
2:22 Acceleration of consumer finance efforts
3:32 Turning point
4:55 Goldman’s retreat

News Explainers
Some days the high-speed news cycle can bring more questions than answers. WSJ’s news explainers break down the day's biggest stories into bite-size pieces to help you make sense of the news.

#GoldmanSachs #Investing #WSJ
Category
Television
Tags
goldman sachs, pre tax loss, consumer lending
Sign in or sign up to post comments.
Be the first to comment