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...The investment bank’s Marcus saving accounts are still around despite the general unwind of Goldman’s retail thrust. They pay interest at an annual rate of 4.50 per cent....
...The gains were bigger than at rival banks JPMorgan Chase and Citigroup, which reported last week. Bank of America and Morgan Stanley report today....
...earnings were hit during the quarter by a loss on the sale of home improvement lending platform GreenSky to a private equity-led consortium, and the sale of what the bank called “substantially all” of its Marcus...
...Bernie Marcus, the co-founder of Home Depot, announced his support for Trump this month....
...Chase, JPMorgan’s UK retail operation, offers interest rates of 3.3 per cent and its balance sheet is also capped at £25bn....
...The balcony scene is reimagined as a multilevel game of kiss-chase around Lez Brotherston’s clever, white-tiled set, culminating in the longest kiss since the whirling embrace in Angelin Preljocaj’s Le Parc...
...JPMorgan Chase, the largest US bank with a vast network of bricks-and-mortar branches, had just over $1tn in deposits within its consumer and community banking unit at the end of the second quarter....
...That has forced Chase and Marcus to increase their own offers to stay at the top of the charts....
...While Marcus is now profitable, JPMorgan is facing questions over the cost of Chase UK....
...This was up from a previous target of more than 14 per cent, but still below longtime rivals Morgan Stanley and JPMorgan Chase, which command higher stock market multiples....
...Goldman earlier this year signalled its intention to pull back from lending to consumers by selling off $1bn of loans tied to its Marcus consumer bank....
...Marcus, Goldman Sachs’ consumer banking business, aims to outcompete the opposition with a 10-month CD that pays out a 5.05 per cent APY....
...Marcus, the consumer-finance platform of fellow Wall Street Category-V bank Goldman Sachs, launched a similarly competitive interest rate, back when claiming to have been paid any kind of interest was in...
...JPMorgan’s Chase UK is offering 2.7 per cent, while Goldman Sachs’s Marcus UK has 2.5 per cent for the first 12 months....
...“It’s a case of really focusing on existing clients, which probably are very high value, high net worth . . . rather than spending the money to go chase new clients.”...
...Latest news Goldman execs clashed over Marcus before the lender’s retreat from retail banking, Josh Franklin reports....
...It echoed declines reported last week by JPMorgan Chase, Bank of America and Citigroup. Goldman said its backlog of deal activity fell quarter-on-quarter....
...Less noted is the fact that it has outperformed Bank of America, JPMorgan Chase and the S&P 500. An activist might make money in Goldman, but I have to think there must be softer targets out there....
...Marcus Goldman....
...john.gapper@ft.com Letter in response to this article: Don’t gloat over Goldman / From Mark M Spradley, Chevy Chase, MD, US...
...The idea at the outset, and I should note here that David Solomon was not the CEO at the outset of this experiment, the Marcus experiment. Ethan WuYeah. Rob ArmstrongIt was Lloyd Blankfein....
...The unified trading and banking division will bring Goldman in line with peers Morgan Stanley and JPMorgan Chase which have a similar structure....
...Goldman offers its own high-yield savings account through its Marcus brand, although its push into retail banking has come under scrutiny following years of losses and escalating costs....
...That, of course, was the pitch Goldman made when it launched Marcus, its consumer banking brand. Instead it caused billions in losses....
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