Michael Cerda, the former chief product officer for Goldman Sachs' Marcus retail bank, has got a whole new job. Cerda left Goldman in New York last month to the surprise of various people. Now he's working in San Fran instead.
Cerda's San Francisco gig isn't exactly Silicon Valley in the sense of Google or Facebook or any of the big tech firms. He's working for Disney. But the Disney office he's at isn't the one in Burbank, California. Instead, he'll be head of streaming services in the San Francisco Bay Area.
It's a bit of a change from running product for Goldman's online lending platform, but Cerda's career has been pretty varied. - Before spending two and a half years as chief product officer for Goldman's Marcus, he spent nearly two years as head of media products at Facebook and three years at video streaming service Vevo.
Cerda's exit from Goldman came amidst claims of widespread disaffection in the Marcus business, which has seen the exit of ten other senior staff in the past few months. Marcus has gathered three million customers, $45bn in deposits and $5bn in loans since it was launched in 2016.
When Cerda left Goldman last month, some insiders said it was because he couldn't hack the commute from his base in California to New York City. Working in SF will clearly be less of a slog.
Have a confidential story, tip, or comment you’d like to share? Contact: email@example.com in the first instance. Whatsapp/Signal/Telegram also available. Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)