Goldman Sachs has named 6 people to lead product development in its consumer and wealth management group — a sign of big innovations to come from the growing division

  • Goldman Sachs announced multiple new appointments within its consumer and wealth management group.
  • The executives will concentrate on product development for multiple business lines, including the Marcus digital bank.
  • Previously, Goldman laid out ambitious targets for growth within its consumer division.
  • Visit Business Insider's homepage for more stories.

Goldman Sachs has tapped six people to lead product development in its consumer and wealth division, according to a memo viewed by Insider. 

Tucker York and Stephanie Cohen, co-heads of Goldman's consumer and wealth management division, which was formed last year, announced the news to staff on Tuesday. The newly-formalized product management team "will partner with business leaders, clients, and customers to develop and deliver digital products and services across the product life cycle," they wrote. 

The group's goal will be to "ensure that our digital offering consistently addresses client and customer needs, aligns with and helps deliver our business strategy and goals, and makes efficient use of internal resources," York and Cohen added.

Read more: Goldman Sachs just gave a key update on its ambitious multi-year transformation plan. Here are the 6 big takeaways that you need to know.

To that end, the executives announced a series of new senior appointments within their group.

Rob Cochran, head of core engineering product, will become CWM digital products lead and chair of the division's digital strategy steering group. Scott Hadley and TJ Lim will become co-heads of product for private wealth management.

Andrea Finann and Mike Capelle, both MD's, will become co-heads of product for high net worth wealth management. Capelle was a founder of United Capital, which Goldman acquired for $750 million in 2019.

And Sonali Divilek, an MD who was worked on Goldman's Marcus product, will take on a role as head of product for consumer, and join the consumer operating council.

See more: Goldman Sachs just revealed a new strategy team to help grow its consumer and wealth business — and the 2 leaders who will be hunting for acquisitions and partnerships.

Read the full memo Goldman's Tucker York and Stephanie Cohen sent to the consumer and wealth management group this week

From: Tucker York and Stephanie Cohen
To: All CWM, Firmwide Engineering MDs and PMDs

January 19, 2021

CWM Product Management Leadership

In our division, and across all of Goldman Sachs, clients and customers are at the center of everything we do. While we may engage them in different ways – some more advisor led and others digitally led –a world class digital offering is critically important to every single one of our clients, customers and employees. To build on and enhance our track record of delivering a seamless and differentiated client and customer experience, we are formalizing the Product Management discipline within Consumer and Wealth Management. The Product Management team will partner with business leaders, advisors, clients and customers to develop and deliver digital products and services across the product life cycle. The team will ensure that our digital offering consistently addresses client and customer needs, aligns with and helps deliver our business strategy and goals, and makes efficient use of internal resources.

To execute this vision across our teams, we are pleased to announce the following leadership changes.

Digital Products and Financial Cloud: Rob Cochran will become CWM Digital Products lead, partnering with product management and business heads to define and implement the product development process. Rob will chair the CWM Digital Strategy Steering Group, which will review proposals for significant new initiatives and track progress against launch, growth and engagement goals. He will also serve as head of Product for the CWM Financial Cloud, helping us to embed our products into the ecosystems of our partners.

Rob will report to Irfan Hussain and David Stark. He joined the firm in 2020 as a managing director and head of Core Engineering Product. Previously, Rob worked at Facebook, which acquired CTRL-labs where he was head of Product, and prior to that he worked at Amazon Web Services.

Private Wealth Management (PWM): Building on their current responsibilities, Scott Hadley and TJ Lim will co-head Product for Private Wealth Management, with a focus on further enhancing the best-in-class experience for PWM clients and teams. They will report to John Mallory and Meena Flynn and work closely with Irfan to ensure consistency across the CWM platform.

Scott joined the firm in 2006. Previously, he led Product for PWM advisor tools. TJ joined the firm in 2020 after previously working at UBS Wealth Management in product, where he launched a new client app and website.

High Net Worth (HNW) Wealth Management: Andrea Finan and Mike Capelle will co-head Product for High Net Worth Wealth Management. In this capacity, they will work to uplift the client experience, evolve financial planning and broaden investment solutions. Andrea and Mike will focus on unifying the product management approach across Ayco and Personal Financial Management, showcasing the best-in-class capabilities and services HNW has to offer. They will report to Larry Restieri and Joe Duran and work closely with Irfan to coordinate across the CWM product suite.

Andrea joined the firm in 2003 and was named managing director in 2012. Previously, she was the business and product lead for Digital Investing, playing an integral role in the launch of Marcus Invest and the Directed Share Program. Mike joined the firm in 2019 as a managing director in conjunction with the acquisition of United Capital. Prior to that, he was one of the founders of United Capital and was responsible for creating United Capital's platform capabilities for clients and advisors.

Consumer: Sonali Divilek will become head of Product for Consumer and will join the Consumer Operating Council. Under her leadership, Consumer will continue its focus on delivering a unified and industry leading user experience for our customers. She will report to Omer Ismail and work closely with Irfan to facilitate product development connectivity across CWM.

Sonali joined the firm in 2019 as a managing director and has since helped expand the Marcus product suite. Prior to joining the firm, Sonali worked at Prudential as chief operating officer for Advisory Services, where she launched LINK by Prudential, the company's first consumer digital financial wellness and advisory platform. Prior to that, Sonali spent 16 years driving growth and innovation at American Express.

Please join us in congratulating Rob, Scott, TJ, Andrea, Mike and Sonali, and in wishing them continued success in their new roles.

Tucker York
Stephanie Cohen

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