Saga partners with Marcus by Goldman Sachs to create long-term savings account

Over 50s specialist Saga has linked up with Marcus by Goldman Sachs to form a new long-term savings partnership, marking the first of several strategic initiatives aimed at returning the group to its "heritage of delivering high-quality products and services".

Providing an easy-access savings account, Goldman Sachs' Marcus offering launched in the UK in September 2018. It has attracted over 250,000 customers in the UK.

Saga's chief executive Lance Batchelor said the partnership signalled "an exciting time" for the FTSE 250 company and its customers.

"We know that our customers hold a large proportion of their wealth in savings and want to know that they're getting a great return with a brand they can trust," said Batchelor.

He acknowledged the "important" strategic nature of the partnership for Saga, noting that it will help the group provide "innovative and high-quality products" designed not just to meet customers' needs, "but to exceed their expectations".

Harit Talwar, global head of Marcus by Goldman Sachs, said: "We are excited to collaborate with brands such as Saga and to provide savings products to their customers.

"This partnership is an example of our ambition to bring our global scale and deep capabilities to meet a broad range of personal finance and investment needs."

At 0830 BST, Saga shares were up 4.91% at 43.18p.