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Photo by Monica Schipper/Getty Images

Goldman Sachs has hired former AT&T chief brand officer Fiona Carter as its first-ever chief marketing officer, according to an internal memo obtained by Axios.

Why it matters: While Goldman spends less than some of its financial services competitors on advertising, the company has built a robust in-house media team that produces everything from podcasts to live events and videos.

Details: Carter will join the executive office as a partner, reporting to Goldman Sachs president and chief operating officer John Waldron.

  • Carter will lead Goldman Sachs’ brand marketing, content and digital strategy globally, according to the memo.
  • She will work closely with businesses across the company to elevate unified brand messaging.

The big picture: Carter is a marketing veteran who spent five years at AT&T and, prior to that, served as chief operating officer at Omnicom, a global agency.

  • At AT&T, she was responsible for an annual advertising budget of over $5 billion, one of the largest advertising budgets in the U.S.

What's next: Carter's last day at AT&T is this Friday. She starts on Sept. 1.

Go deeper: AT&T chief brand officer Fiona Carter to exit later this month

Go deeper

Scoop: Biden campaign taps new ad agency

Photo: Chip Somodevilla/Getty Images

The Biden campaign has brought on the progressive advertising firm Bully Pulpit Interactive (BPI) to run a new mobilization advertising program online that is uniquely focused on educating interested voters with ways to cast ballots amid the coronavirus pandemic.

Why it matters: In a normal election, the campaign would focus its advertising efforts on persuading voters in the weeks leading up to the election. But the Biden campaign faces a different challenge: it needs to mobilize voters that want to vote about how to do so during COVID-19, requiring more advertising expertise and resources.

Dion Rabouin, author of Markets
Updated 3 hours ago - Economy & Business

Our make-believe economy is here to stay

Illustration: Eniola Odetunde/Axios

The Federal Reserve and global central banks are remaking the world's economy in an effort to save it, but have created something of a monster.

Why it matters: The Fed-driven economy relies on the creation of trillions of dollars — literally out of thin air — that are used to purchase bonds and push money into a pandemic-ravaged economy that has long been dependent on free cash and is only growing more addicted.

Mike Allen, author of AM
4 hours ago - Politics & Policy

Why Trump may still fire Barr

Photo: Jabin Botsford/The Washington Post via Getty Images

Attorney General Barr may be fired or resign, as President Trump seethes about Barr's statement this week that no widespread voter fraud has been found.

Behind the scenes: A source familiar with the president's thinking tells Axios that Trump remains frustrated with what he sees as the lack of a vigorous investigation into his election conspiracy theories.