NEW YORK (AP) " More homeowner, less hedge fund titan. Goldman Sachs, long known for its super-rich clients and well-connected executives, is starting to act more like a neighborhood bank.
The most Wall Street of Wall Street firms really wants people to start thinking about it the next time they need to open a bank account or borrow money. It's paying above-average rates on online savings accounts and offering that stodgiest of investments, good old-fashioned CDs. Personal loans are available through its Marcus brand, a friendlier reference to co-founder Marcus Goldman.
For a firm that never had a reason to advertise, Goldman now runs Marcus commercials with the casual tagline: "Debt happens."
Stephen Scherr, Goldman's chief strategy officer and CEO of GS Bank, says the firm wants to "grow a robust consumer banking business."