Office address: 200 West Street, New York, NY 10282
Website: goldmansachs.com
Year established: 1869
Company type: financial services
Employees: 46,000+
Expertise: investment banking, asset management, wealth management, capital markets, M&A advisory, equities trading, fixed income, private equity, digital banking, transaction banking
Parent company: N/A
Key people: David Solomon (CEO), John Waldron (COO), Denis Coleman (CFO), John F.W. Rogers (EVP), Alex Golten (chief risk officer), Carey Halio (global treasurer), Sheara Fredman (chief accounting officer)
Financing status: corporation
Goldman Sachs is a global financial services firm based in New York. The company offers investment banking, asset management, wealth management, and digital banking, managing over $2 trillion in assets. With more than 46,000 employees, it is known for its top-rated expertise and strong client relationships.
Goldman Sachs traces its story back to 1869, when Marcus Goldman set up a small office in Lower Manhattan. He offered local merchants a new way to get credit by buying their promissory notes, which helped shape the commercial paper business.
By the late 1800s, the firm had become Goldman, Sachs & Co. It also joined the NYSE in 1896 and gained a reputation for financial innovation.
Over the twentieth century, Goldman Sachs expanded across the US and into Europe, building a strong investment banking business. The firm introduced the price-to-earnings ratio as a new way to value companies, which became an industry standard. In the 1930s, Sidney Weinberg led the firm through the Great Depression and helped it become a top player in underwriting and trading.
The firm kept growing by opening offices in London, Tokyo, and Zurich in the 1970s while also acquiring J. Aron & Company in 1981. In 1999, Goldman Sachs became a public company, trading on the NYSE under the ticker GS.
The 2000s brought new challenges, but the firm stayed strong. It moved into new headquarters at 200 West Street and launched major initiatives like 10,000 Women and 10,000 Small Businesses.
In recent years, the company has focused on technology and consumer banking, launching Marcus and partnering with Apple for the Apple Card. The firm has also committed to sustainability and diversity, with major investments in climate and inclusive growth.
In 2024, Goldman Sachs announced a $1 billion stake in T. Rowe Price, a leading asset management firm. The firm aimed to create new investment options for retirement clients and financial advisors through the partnership.
Goldman Sachs offers a wide range of financial products designed for institutional, corporate, and individual clients. Its solutions include:
These offerings are supported by advanced technology, global resources, and a strong focus on client service. Goldman Sachs also invests in sustainable finance and digital innovation to supplement its core products.
Goldman Sachs states that its culture is driven by teamwork and a focus on collective achievement. The company reports that collaboration and a sense of belonging are central to its approach. Its values are:
According to the company, employees have access to coaching, mentorship, and a range of benefits:
Goldman Sachs also welcomes over 2,600 new analysts and associates to more than 60 offices each summer. Students participate in programs and events that offer real-world business exposure and networking opportunities.
David Solomon is the chairperson and CEO of Goldman Sachs and chairs the board of directors. Before this, Solomon was president and COO, and earlier led investment banking and financing groups. He also chairs Hamilton College’s board and serves on boards for the Robin Hood Foundation, NewYork-Presbyterian Hospital, and the Paley Center for Media.
The executive team at Goldman Sachs leads the firm’s strategy and daily operations:
Goldman Sachs’s leadership team focuses on strong performance and responsible management for clients, shareholders, and employees.
Goldman Sachs released a report showing family offices are investing heavily in men’s sports, with far less interest in women’s leagues. It found that family offices are about four times more likely to invest in men’s sports than in women’s. By tracking these trends and advising on large deals, the firm helps clients find new opportunities in the growing sports investment market.
Goldman Sachs Asset Management also released a study showing that alternative investments grow more popular as wealth increases, especially among millennials. The report shows 91 percent of $20 million households use alternatives, and millennials allocate 20 percent to them. The company continues to share these findings to guide clients and advisors on market trends and private investment opportunities.
For some additional reading material in between cookouts and baseball games this weekend, here are the rest of the week’s adviser fintech headlines.
Global equity funds had $5.2 billion of outflows in the week to May 18, led by redemptions from mutual funds.
The agency has been sending firms lists of key positions including heads of certain investment banking teams or trading desks.
Survey finds that 63% think ESG risks are best handled when fund managers select a portfolio to manage opportunities and risks.
Just 31% of the bank's shareholders supported the pay packages for CEO Dimon and other company executives.
The Telemessage technology, combined with existing services from Smarsh, will assist in the ongoing struggle to monitor private messaging apps used by employees at financial services firms.
Divesting can take away the option of engaging high-carbon companies to do better.
A mass exodus of money, an $11 trillion wipeout, and the worst losing streak for global stocks since the 2008 financial crisis. The bad news is that it may not be over yet.
Plan advisers will be able to use Envestnet's retirement plan tools on the Kestra platform.
The strategy blends short-term Treasury bonds with put options on longer-term bonds to ride the trend toward higher rates.
The firm, which was the second-biggest underwriter of special purpose acquisition companies last year, has been telling sponsors of the vehicles it will end its involvement, sources said.
Glass Lewis & Co. cited a 'disconnect' between the CEO's pay and the bank's performance; it's particularly concerned about the $52.6 billion in options awarded to Dimon in 2022.
Gwen Campbell says in a complaint filed with the EEOC that she was subjected to 'name-calling' and 'sexist decrees' when she joined JPMorgan in 2020.
Suzanne van Staveren will work on Edelman Financial Engines’ long-term growth strategy and financial objectives.
Earlier resistance could impede Wall Street’s latest efforts to stay competitive, just as regulatory uncertainty and internal compliance cloud expansion plans.
