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.
Recent market volatility is making crypto robos more appealing in the traditionally passive world of digital advice.
'Any further significant weakness at the index level should be seen as a buying opportunity, in our view,' Goldman strategists say.
Wall Street giant sets another high mark for profit in 2021.
The investment bank shelled out an additional $4.4 billion in comp last year alone, for a total of more than $17.7 billion for the year, sending the bank to its only quarterly profit decline of 2021.
For many financial advisers, the slide reinforced the notion that Bitcoin is just too volatile for client portfolios.
Other banks that have revised their staffing strategies and eased off mandates to return to the office amid the jump in infections include JPMorgan, Citibank, Bank of America and Jefferies.
The Glasgow Financial Alliance for Net Zero is finding its can't attract some of the top names in asset management, including Pimco, Fidelity Investments and Capital Group.
Up until recently, major global firms had happily ignored independent advisers for decades.
A full 25% of Gen Z respondents in a new survey say they plan to retire before the age of 55.
The bank has launched a number of new credit cards this year, including a low-interest-rate card, and plans a rewards-card line next year.
Nancy Davis has made a splash with IVOL, an actively managed exchange-traded fund that lets investors bet on inflation and interest-rate volatility.
The firm is boosting its matching contributions to retirement accounts for U.S. workers and eliminating the one-year waiting period for contributions for new joiners.
After a summer of sale rumors, Wealthfront Corp. is now reportedly on the block, capping years of significant development toward a fully automated investment platform.
As part of the effort, the bank tapped Puneet Singhvi to be its new head of digital assets inside the institutional clients group.
The former president of Morgan Stanley will stand for election to succeed Axel Weber at the Swiss bank's annual meeting in April.
