Goldman Executives Clashed Over Retail Banking Strategy, FT Says

Goldman Sachs Chief Executive David Solomon and his executives sparred over the strategy of the bank’s consumer banking business, before a retreat for the Marcus division was announced last week, the Financial Times reported on Sunday.

Solomon had argued that Marcus should offer current accounts in addition to saving products and loans in order to deepen relationships with consumers, according to the report, which cited people it didn’t identify. Executives at the consumer division said it didn’t have a competitive edge in checking, which Solomon disagreed with, the report said.