Goldman Weighs Delaying Marcus Checking Accounts Rollout

The transcript discusses Goldman Sachs' challenges in its consumer banking project led by David Solomon. Despite initial enthusiasm, the project has faced significant financial losses, internal disagreements, and execution issues. The bank's strategy is compared to other major banks, highlighting its unique challenges. The high cost of customer acquisition and the need for strategic reevaluation are emphasized as key concerns.

In what ways has Goldman Sachs' approach to consumer banking been described as ambitious yet problematic?

How does the cost of acquiring a customer impact Goldman Sachs' consumer banking strategy?

What is the CEO's perspective on the importance of building a relationship with consumers?