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Goldman Sachs execs are opening up about their plans for Marcus, and they think it can do to banking what iTunes did to the music industry

Goldman Sachs' global head of consumer, Harit Talwar, recently said the banks' consumer finance business, Marcus, is inspired by how Amazon and iTunes disrupted their respective industries.  David Haber, Goldman Sachs' vice president of strategy and corporate development, spoke last month about how Marcus has a unique opportunity to serve as a distribution platform or back end for companies outside of financial services.   Both comments suggest executives view Marcus as eventually serving as a...
Tags: Apple, Amazon, US, Trends, David, Customer, Citigroup, Goldman Sachs, Seattle, Goldman, Intuit, Marcus, Jpmorgan, Yahoo Finance, Scott Young, Ayco


Morgan Stanley just made its biggest bet since the financial crisis in a bid to win the hearts and minds of unicorn startup employees

Morgan Stanley bought stock-plan operator Solium Capital on Monday to add potential customers to its wealth management business.  For $900 million, the bank will add Solium's 3,000 clients and 1 million participants at startups like Stripe, Instacart, and SpaceX, as well as more established companies.  Morgan Stanley wants to win the hearts and minds of startup employees. The Wall Street firm on Monday announced the $900 million purchase of Solium Capital, which runs a platform for keeping tr...
Tags: Spacex, Trends, Goldman Sachs, Morgan Stanley, James Gorman, Ryan, Evercore ISI, JMP Securities, Keefe Bruyette Woods, Ayco, Arch, Gorman, Brian Kleinhanzl, Devin Ryan, Solium, Solium Capital


Inside-Trader Nacchio's Bittersweet Victory Over Goldman

For Joseph Nacchio, the former Qwest chief who went to jail for insider trading in the aftermath of the Enron bust, justice in civil court was swift and bittersweet. Nacchio won a $14.2 million insurance case verdict late last week against a Goldman Sachs Group Inc. unit, Ayco, and a financial adviser, David Weinstein, who helped convict him in 2007 of using confidential information to trade Qwest shares.
Tags: Goldman Sachs Group Inc, David Weinstein, Enron, Nacchio, Joseph Nacchio, Qwest, Ayco


UPDATE 1-Ex-Qwest CEO Nacchio wins $14 mln verdict vs Goldman unit -lawyer

Joseph Nacchio, the former Qwest Communications International chief executive, on Thursday won a $14.2 million jury verdict against a Goldman Sachs Group Inc unit and financial adviser over the sale of life insurance policies, his law firm said. Nacchio and his wife accused Goldman's Ayco financial planning unit and their former adviser David Weinstein of breaching their fiduciary duties by failing to tell them that the $95 million of variable life insurance they bought in 2000 would likely laps...
Tags: Goldman, Goldman Sachs Group Inc, David Weinstein, Nacchio, Joseph Nacchio, Qwest, Ayco, Qwest Communications International


On The Movevisit|article-5911231|mobile_home_category_body-6368|3

Christopher Aiello joined as a wealth strategist. Aiello has more than 20 years of financial services experience, working as a financial planner for firms including AYCO, PricewaterhouseCoopers and Wells Fargo Private Bank. [Link to media]
Tags: Ayco, Christopher Aiello, Aiello, Wells Fargo Private Bank


On The Move

Christopher Aiello joined as a wealth strategist. Aiello has more than 20 years of financial services experience, working as a financial planner for firms including AYCO, PricewaterhouseCoopers and Wells Fargo Private Bank . [Link to media]
Tags: Ayco, Christopher Aiello, Aiello, Wells Fargo Private Bank