David Solomon, president and chief operating officer of Goldman Sachs & Co., speaks during the Milken Institute Global Conference. Photographer: Dania Maxwell/Bloomberg

When Goldman Sachs unveiled its Marcus personal lending and savings platform two years ago, the move was hailed as the investment bank’s push into a far less glamorous, even boring corner of finance. Famous for it’s dominance as a trading house and a banker to the world’s largest companies, Goldman bet big on Marcus as a digital-first banking app where ordinary people could find attractively-priced personal loans and savings rates. Since, Marcus has lent out over $4 billion to more than 2 million customers, and it has a further $29 billion in deposits.

Now comes a big twist. In a memo obtained by Forbes, Goldman says it will merge Marcus with its $1.5 trillion investment management business, creating a new consumer and investment management division. Currently, Goldman’s IMD business contains Goldman Sachs Asset Management, which runs dozens of strategies across all markets for institutional investors, and its private wealth management division, which helps wealthy families and foundations manage their money. Goldman says the merger of Marcus with this unit will now lead to a broader wealth management offering and should accelerate Marcus’s growth by increasing both its customer base and distribution channels.

“We plan to launch a broader wealth management offering – combining Marcus’ digital capabilities with the more established sales channels and products currently housed within the Investment Management Division,” David Solomon, Goldman’s recently appointed CEO, John Waldron, the firm’s new COO, and Stephen Scherr, the head of its retail bank, said in a memo to employees.

For Marcus customers, the reorganization indicates they could soon see far more than Goldman-branded loans and interest bearing deposits, gaining access to a host of products the bank normally runs for institutional and high net worth clients. Another area of growth Solomon, Waldron and Scherr…