Goldman shuffles leadership at consumer banking unit

Harit Talwar, who has been Goldman Sachs’ global head of consumer business and the public face of its Marcus unit since 2015, is leaving his position, according to a Bloomberg report.

Why should we care?
Talwar previously held senior roles at Discover Financial Services, Morgan Stanley, and Citigroup, overseeing areas including cards, loans, and retail banking. At Goldman, he ushered in the bank’s embrace of consumer banking, and oversaw the unit as the bank acquired Clarity Money and grew its Marcus retail banking product suite. Talwar will remain at Goldman for now, as chairman of the business he previously led, and the bank will appoint Omer Ismail as its new global consumer head, the report suggested. Ismail has been at Goldman for 13 years. He is currently head of the bank’s U.S. consumer business and was previously chief operating officer for Goldman’s consumer business and managing director, private equity. According to his LinkedIn profile, Ismail was Goldman Sachs consumer business’ first employee, tasked with building the team and overseeing the development of the product, operations, risk, and marketing functions.