Goldman Sachs has begun rolling out its Marcus brand in the UK, offering online savings accounts to UK staffers ahead of a full-scale launch to the masses.
Marcus, was rolled out in the US in 2016, providing ordinary Americans with an online lending and savings platform as part of a concerted effort by Goldman to diversify into retail services.
Slated for launch in the next few weeks, Brits will initially only be able to open savings accounts, with staffers taking part in the pilot being offered an interest rate of 1.5%. Marcus is understood to have 150 staff in the UK ready for the commercial roll-out.
A memo seen by the Financial Times about the programme, states: "The launch of Marcus by Goldman Sachs in the UK represents an important milestone in the growth of Goldman Sachs’ consumer business, as well as continued diversification of the firm’s funding."