Goldman Sachs just announced a big promotion in its new online business

Boe HartmanGoldman SachsBoe Hartman.

Goldman Sachs has promoted a technology expert to chief information officer of its retail arm, GS Bank USA.

Boe Hartman has been named head of consumer and commercial banking technology and chief information officer of GS Bank USA, which operates the online-lending platform Marcus, according to a memo from technology division coheads John Madsen and 
Umesh Subramanian.

They report to the firmwide chief information officer, Elisha Wiesel.

Hartman was already chief technology officer and head of digital finance technology within GS Bank. He joined the firm in 2014 from Barclaycard, where he was chief information officer.

Goldman Sachs launched its online lending tool,, in October, offering fixed-rate, no-fee personal loans of up to $US30,000 for two- to six-year periods.

That followed the launch of its digital savings account platform on last April, offering customers a 1.05% interest rate on deposits, which can be as little ast $US1. GS Bank bought GE Capital’s online deposit platform last April.

Marcus has since won a couple of awards. It’s led by digital finance head Harit Talwar.

“There are some — what is colloquially called fintech players — who have good technology platforms but who don’t have their own balance sheet,” Talwar said in a recent video on Goldman Sachs’ website.

“Then we have some large banks who have their balance sheet, but perhaps because they have product and channel conflicts and they have legacy technology sytems, don’t have a modern online digital lending platform. We have combined the two.”

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