Jan 3 (Reuters) – The top of Goldman Sachs Group Inc’s (GS.N) direct-to-consumer unit, Swati Bhatia, is stepping down from the position, in response to an inside observe seen by Reuters.
Bhatia, a former PayPal govt, will retire from the partnership and change into an advisory director, the observe mentioned.
The transfer comes as Goldman Sachs in October signaled it was scaling again its ambitions for the loss-making shopper unit, Marcus.
The financial institution additionally plans to cease originating unsecured shopper loans, a supply acquainted with the transfer informed Reuters final month, one other signal it’s stepping again from the enterprise. learn extra learn extra
Chief Government Officer David Solomon, who took the helm in 2018, has tried to diversify the corporate’s operations with Marcus. It was positioned underneath the wealth enterprise in October as a part of a administration reshuffle that additionally merged the buying and selling and funding banking items.
Bhatia, previously the chief funds threat officer at digital funds firm Stripe, had joined the financial institution in February 2021.
Individually, the financial institution appointed Zeeshan Razzaqui as co-head of service provider point-of-sale lending at Platform Options, its unit specializing in monetary know-how merchandise.
Reporting by Aishwarya Nair in Bengaluru and Saeed Azhar in New York; Enhancing by Shailesh Kuber
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