Goldman-Sachs may be a financial heavyweight, but they are competing in a market populated with strong and experienced competitors. It is hard to see how they can achieve a competitive advantage.
Sometimes, instead of entering into a market or line of business that may seem attractive, it would make more sense to invest in existing market leaders. They can buy the stock or make an acquistion. If the price is too high, that should tell them something.
Dwayne Kolly
Chief Financial Officer
Business Bank of Texas, N.A.
D. 512-835-6600 Office
F. 512-835-6614
dkolly@businessbankoftexas.com
http://www.businessbankoftexas.com
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Marcus-Goldman Sachs' consumer-finance unit-was the subject of a sweeping feature in The Wall Street Journal last week. "New initiatives under way include checkout-counter loans for shoppers, wealth management, and household-budgeting tools for the masses as well as insurance, mortgages, and car loans," the newspaper reported. Paying above-market rates, Marcus also managed to add $8 billion in deposits to the $9 billion it bought from GE in 2016.
So today's questions are these: Are you feeling the competitive effects of Marcus in your market? Do you think Goldman Sachs-considered the elite of the elite on Wall Street-can make it on Main Street?
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Barb Rehm
Promontory Interfinancial Network
Arlington VA
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