Goldman Sachs launches UK savings bank
Goldman Sachs has launched an online retail bank in the UK, offering an easy access online savings account with an initial interest rate of 1.5%.
Accounts are currently available to Goldman Sachs' 6,000 employees in the UK and are expected to be available to the general public from next month.
The bank, Marcus, is named after founder Marcus Goldman and opened in the US in 2016.
An internal memo to staff noted that “the current interest rate offered may be subject to change for the nationwide launch, depending on market conditions”.
The memo said the launch of Marcus in the UK “represents an important milestone in the growth of Goldman Sachs’s consumer business, as well as continued diversification of the firm’s funding”.
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