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As Goldman moves from Marcus to now its SMB lending product, the investment bank has hired engineers, product developers, and marketing specialists from Bond Street who is shuttering its doors.
Goldman has looked outside for new talent, tapping a marketing chief from underwear brand Jockey International, a former Leo Burnett advertising executive to develop online content, and personal bankers from Wells Fargo & Co. Bond Street’s loans have performed well enough that it was able to raise a $300 million line of credit from investment-bank Jefferies Group LLC in February. Its automated underwriting process includes traditional inputs such as entrepreneurs’ personal credit score s and their businesses’ financial statements, but it also pulls in data from social networks and other sources used to fight fraud.
