April 1, 2019 / 10:23 PM / 2 months ago

MOVES-Goldman Sachs loses head of products for online bank Marcus

NEW YORK, April 1 (Reuters) - The chief product officer at Goldman Sachs Group Inc's fast-growing online bank, Marcus, has left the firm, according to a source familiar with the matter.

Michael Cerda joined Goldman Sachs as a managing director in January 2017, according to his profile on Linkedin.com.

Cerda, who previously ran media products at Facebook Inc , lived in California with his family and commuted to Goldman Sachs' headquarters in New York. The extensive travel played a big role in Cerda's decision to leave the firm, the source said.

During Cerda's tenure, Marcus, which launched in 2016, accumulated $45 billion in customer deposits in its U.S.- and UK-based savings accounts. It has $5 billion in personal loan balances.

The story was first reported earlier on Monday by the website efinancialcareers.com www.efinancialcareers.com.

Goldman Sachs has not yet named a replacement, according to the Financial Times. (Reporting by Elizabeth Dilts Editing by Sonya Hepinstall)

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