The effort has meant the firm, long a banker to blue-chip companies and wealthy individuals, has been forced to focus as well on the mundane business of making loans and collecting deposits. The venture has even yielded a credit card tie-up with Apple Inc.In handing off the business to Mr Ismail, it's turned to a homegrown executive who has served as Mr Talwar's deputy and ran Marcus in the US.
The 59-year-old Mr Talwar previously led the US cards division for Discover Financial Services and spent 15 years at Citigroup, with roles tied to cards, loans and retail banking. Under him, Goldman tried to develop a reputation for its consumer business distinct from the one earned by its traditional dealings in high finance, including slapping a brand on it that downplays the Goldman association. The Marcus name is a nod to Marcus Goldman, a German immigrant who founded the firm in 1869.
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