Marcus by Goldman Sachs loses COO to Stripe


Goldman Sachs has lost the COO/CRO of its consumer unit Marcus to online payments powerhouse Stripe, according to Bloomberg. Colin Kennedy, who held dual operational and revenue leadership roles at Marcus, has assumed the role of Head of Banking and Issuing Partnerships at Stripe, per LinkedIn. Kennedy joined Goldman Sachs via the acquisition of financial technology startup Clarity Money, where he was also COO/CRO. He was with Goldman Sachs for less than one year. Kennedy had 12 years experience at American Express prior to Clarity Money.

The migration of leadership talent from Goldman Sachs' Marcus to Stripe marks a reversal from last April, when former Stripe engineering leader Jeff Winner joined Marcus to head up the unit's West Coast office out of San Francisco. At the time, Bloomberg profiled Winner and Goldman's efforts to create a startup-like culture with no dress code, kombucha on tap, and a jeans-and-sneakers vibe. Goldman was making a concerted effort to attract tech workers and shed its historically stuffy image.

Stripe, founded in 2010 by brothers Patrick and John Collison, recently raised funding at a valuation of more than $22 billion.

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May 5, 2022, 3:17PM UTC