Goldman hires Uber executive to run its consumer bank

Peeyush Nahar joins Goldman as the global head of its consumer business, which includes its online bank, Marcus. At Uber, he was vice president of technology.

Nahar takes over Goldman’s fledgling consumer business at a time of turnover in the division that Chief Executive David Solomon has identified as a key area of growth for the bank.

He is the third global head of consumer banking since last September, when Harit Talwar stepped aside to become division chairman, giving the top job to Omer Ismail. Ismail officially took over in January, but soon left for a position at Walmart Inc’s fintech venture. [nL2N2KY0EK]

A Goldman spokesman confirmed the contents of the memo.

An Uber spokeswoman confirmed Nahar’s departure and declined to comment further.

At Uber, Nahar managed technologists who worked on the ride-hailing app’s payments, infrastructure, fintech and other services. Before that, Nahar worked at Amazon, where he helped build the retailer’s lending and machine-learning platform for its Alexa product.

Nahar, who officially takes over June 1, joins several new hires in Goldman’s business division.

Brian King was rehired in April from Wells Fargo & Co to be Goldman’s consumer chief risk officer and head of business operations.

The bank also recently hired Rob Cochran to be lead of digital products for consumer and wealth management and Swati Bhatia as head of proprietary business for the consumer business.