Goldman Sachs - Good To Have Money, Good To Invest Money

Goldman Sachs - Good To Have Money, Good To Invest Money
Goldman Sachs

Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by the organization it is based on.

Goldman Sachs is an American multinational investment bank. It has got a net worth as of December 17, 2020, as $83.41B. It offers services in investment management, securities, asset management, and securities underwriting. Marcus Goldman and Samuel Sachs founded Goldman Sachs in 1869.

Read about the Goldman Sachs success story, Founders, Competitors, Business Model, Funding, and Revenue Model below.

Goldman Sachs - Company Highlights

Company Name The Goldman Sachs Group, Inc.
Headquarters New York, U.S
Sector Financial Services
Founders Marcus Goldman & Samuel Sachs
Founded In 1869
Revenue $47.4 Billion (2022)
Website Goldmansachs.com

Goldman Sachs - About
Goldman Sachs - Industry
Goldman Sachs - Founders and Team
Goldman Sachs - Startup Story
Goldman Sachs - Mission and Vision
Goldman Sachs - Name, Tagline, and Logo
Goldman Sachs - Solutions
Goldman Sachs - Business Model
Goldman Sachs - Revenue Model
Goldman Sachs - Employees
Goldman Sachs - Marketing Strategy
Goldman Sachs - Challenges Faced
Goldman Sachs - Mergers and Acquisitions
Goldman Sachs - Investments
Goldman Sachs - Philanthropic Activities
Goldman Sachs - Awards and Achievements
Goldman Sachs - Competitors
Goldman Sachs - Growth
Goldman Sachs - Future Plans

Goldman Sachs - About

Goldman Sachs is a leading investment firm. It maintains offices and all major financial centers around the world. Goldman Sachs brings capital, people, shareholders, clients, and ideas together. They actually serve all. Serve the community to grow more. Advice about buying and selling businesses is always given. Starting from raising capital to managing risks takes place here.

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Goldman Sachs - Industry

The financial services industry is considered to be one of the most powerful industries in the world as it contains a wide range of businesses that manage money.

As per the latest reports, the market size of global financial services grew from $25848.74 billion in 2022 to $28115.02 billion in 2023 at a compound annual growth rate (CAGR) of 8.8%.

Goldman Sachs - Founders and Team

Marcus Goldman and Samuel Sachs are the Founders of Goldman Sachs.

Goldman Sachs Founders
Marcus Goldman and Samuel Sachs - Founders, Goldman Sachs
  • Marcus Goldman was a German banker, financier, and businessman. He was born in Trappstadt, Bavaria. He immigrated to the United States in 1848. He was the founder of the company. His company is now known by all and is one of the world's largest investment banks.
  • Samuel Sachs was an American investment banker. He was born in Maryland, United States in 1851. He was the business partner of Marcus Goldman. But actually, Marcus Goldman was his father-in-law. He joined the business. He died in 1935.
  • David M. Solomon is an investment banker. Since the year 2018, he is the CEO of Goldman Sachs. He is 58 years old as of 2020. He has a net worth of around $100 Million
David M Solomon - CEO, Goldman Sachs
CEO, Goldman Sachs

Goldman Sachs - Startup Story

As you have read before, Samuel Sachs was the business partner as well as the son-in-law of Marcus Goldman. Before, accepting the offer. Samuel Sachs used to work as a bookkeeper and ran minor businesses. After his joining, Marcus named the company M. Goldman, Sachs & Co. in 1888. An updated listing took place in 1883. Samuel established the company's reputation day by day. He stood in the banking community. By 1890, Goldman Sachs became one of the largest dealers of commercial paper in New York. Later, Samuel retired and passed away in New York.

Goldman Sachs - Mission and Vision

The mission of Goldman Sachs reads as, "We aspire to be the world’s most exceptional financial institution, united by our shared values of client service, excellence, partnership, and integrity."

The company has four core values, which are based on:

  • Client Service
  • Excellence
  • Partnership
  • Integrity

The aim of the firm has always been towards serving its clients well. Besides this, the goal of the company is to ensure that they deliver returns to its shareholders.

In the tagline, the goal of Goldman Sachs speaks for itself. Hence, its tagline is "Our people are our greatest asset."

Goldman Sachs Logo

Goldman Sachs - Solutions

Goldman Sachs is known for building and integrating developer-centric, cloud-based financial products and services into the ecosystems of its clients to enable them to provide better service to their own clients and customers.

As we are aware that the company is mostly into offering services related to finance, it offers 3 major platform solutions for its clients, these are:

Transaction Banking

This platform designed by the company is to assist clients in creating a future treasury and enabling software partners to improve their services. It is a straightforward and secure transaction banking platform with 24/7 accessibility so that its clients can easily use it.

Merchant Point of Sale Lending

Merchant point of sale lending is a growing network of retailers that are offered clear and uncomplicated solutions to assist them in expanding their operations and better serving their clientele.

Embedded Consumer Finance

Through its API-first platform, a SaaS technology, the company enables businesses to directly offer its highly regarded consumer financial products within their online experiences. This doesn't end here. The company also offers tools that will help enable developers to drive long-term growth for their businesses and derive smart decisions.

Why Goldman Sachs Went From Investing For The Rich To Targeting Everyone

Goldman Sachs - Business Model

The company deals with a range of financial services. It has got a diversified client base which includes financial institutions, governments, and corporations. The company has got 4 operable segments. These are Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management.

  • Investment Banking is advising organizations on capital raising strategies. This feature helps to raise capital and grow businesses.
  • Institutional Client Services are actually financial services with both financial and non-financial firms. The firm makes clear client transactions. For future exchanges, security lending, prime brokerage, etc.
  • Investing & Lending are something very common, which everyone already knows. Still investing is putting money into property, shares, and schemes. The firm makes investments both directly and indirectly. And lending is allowing someone or something to use an amount of money. Money can be paid back later.
  • The firm also offers wealth advisory services, portfolio management, and financial counseling.

Basically, the company's business is to help people, companies, shareholders, and clients on the following points:

  • It advises on what to buy or sell depending on the marketing conditions.
  • It helps local or national governments to finance their operations.
  • It transacts for its clients in all financial marketing conditions such as bonds, equities, currencies, etc.
  • It helps or supports markets to remain effective and liquid for investors and businesses to meet up with their needs.
  • It manages to safeguard and improve the value of assets for both private individuals and institutions like mutual funds, pension funds, and foundations.
  • It also invests in capital to help grow its clients' capital.
  • It also aggressively helps to innovate and come up with new ideas, and new products to grow further.

In addition, the company offers the following solutions for corporates and institutions:

  • Asset Management
  • FICC and Equities
  • Comprehensive Solutions for Nonprofits
  • Financial Cloud
  • Investment Banking
  • Global Investment Research
  • Ayco Personal Financial Management
  • Marquee
  • Liquidity Investing

On the other hand, for individuals, some of the services provided by Goldman Sachs are:

  • Marcus by Goldman Sachs
  • Private Wealth Management
  • Global Investment Research
  • Ayco Personal Financial Management
  • Personal Financial Management

Apart from all these, Goldman Sachs is a key trader in the market for Treasury securities issued by the United States. It offers custodian bank and clearing services.

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Goldman Sachs - Revenue Model

  • Investing activities and the origination of loans are to provide financing to clients.
  • After clearing client transactions on major stock, commissions, and fees are executed.
  • Financial advisory fees and underwriting fees are charged by the clients.

In 2022, the company generated a revenue of $47.4 billion. As of September 26, 2021, the firm has a market capitalization of $134.8 billion.

Goldman Sachs - Employees

As of 2021, the number of employees the company reported having was 48,500. However, as a result of the earnings report from July of 2022, which showed significantly decreased earnings, Goldman Sachs announced in September 2022 that hundreds of employees across the company were laid off.

Goldman Sachs - Marketing Strategy

The company invests around 90% of its marketing budget in digital marketing schemes. The main focus is on the creation of content and social media. With the help of social media platforms like LinkedIn, YouTube, Facebook, and Twitter.

The company enables itself to reach its customers. Innovation and expansion of the market are increasing day by day. Social enterprises are also contributing to the UK economy and community. After a lot of research, the company designed a 10,000 small business program. This was created to bring high-quality business support to the leaders for growing their small businesses across the country.

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Goldman Sachs - Challenges Faced

One of the most challenging parts for Goldman Sachs was during the aftermath of the financial crisis that happened between 2007-2008. The firm came under fire for allegedly deceiving its investors and making money through the collapse of the mortgage market. The situation was so bad that there were investigations into this matter. It was conducted by the US Congress and the US Department of Justice, and the US Securities and Exchange Commission filed a lawsuit. As a result, the company agreed to pay a $550 million settlement.

While this was one of the many challenges faced by the company, there was another major controversy in 2021, wherein a group of first-year bankers complained to managers that they were working 100 hours a week with only 5 hours of sleep at night. This was highlighted and the company faced scrutiny. However, the firm announced a 15 days vacation every year for its employees to maintain their work-life balance.

Goldman Sachs - Mergers and Acquisitions

The company has made 28 acquisitions till now. Some of the details are:

Date Aquiree Name Amount
September 15, 2021 GreenSky $2.2 Billion
August 19, 2021 NN Investment Partners 1.6 Billion
December 8, 2020 Goldman Sachs Gao Hua Securities -
October 2, 2020 General Motors - Credit Card Business $2.5 Billion
May 14, 2020 Folio Institutional -
June 3, 2019 Capital Vision Services $2.7 Billion
May 16, 2019 United Capital $750 Million
November 9, 2018 ClearFactr -
July 11, 2018 Boyd Corporation $3 Billion
June 14, 2018 Slickdeals -

Goldman Sachs - Investments

It is recorded that Goldman Sachs has made 956 investments, out of which 376 are lead investments. Some of the latest investments are:

Date Name Of The Organization Amount Raised
February 2, 2023 Syngene $11.9 Billion
January 25, 2023 Fever $110 Million
January 25, 2023 Forward Networks $50 Million
January 12, 2023 LePure Biotech -
January 11, 2023 Xpansiv $125 Million
January 3, 2023 InsuranceDekho $110 Million
December 15, 2022 Mews $185 Million
December 13, 2022 Vestiaire Collective $75 Million
December 8, 2022 Younited $60 Million
November 17, 2022 Bikaji Foods $566.4 Million
June 25, 2020 Capital Markets Gateway $25 million
July 14, 2020 Permira -
July 14, 2020 Nasuni $25 billion
July 15, 2020 Bond Financial Technologies $32 million
July 23, 2020 Missfresh E-Commerce $495 million

In addition to this, the company has made 46 diversity investments. These are:

Date Organization Name Amount Invested
February 15, 2022 Homebound -
January 11, 2022 Wonderschool $25 Million
November 27, 2021 H2O.ai $100 Million
March 4, 2021 Flywire $60 Million
February 24, 2021 Madison Reed $52 Million
October 6, 2020 BlocPower $11.8 Million
September 17, 2020 Ellucian $1.6 Billion
July 14, 2020 Nasuni $25 Million
February 13, 2020 Flywire $120 Million
January 15, 2020 Moneythink $10K

Goldman Sachs - Philanthropic Activities

Under Goldman Sachs Foundation, the company has contributed about $1.8 billion towards philanthropic activities. With a maximum employee donation match of $20,000, the business provides a donor-advised fund (DAF) called Goldman Sachs Gives that makes donations to nonprofits.

Even during the pandemic when companies struggled to operate, the company made progress in reuniting its teams across the world and in supporting their employees and their families.

In addition, the company advised the governments of several nations on how to raise more than $15 billion for vulnerable populations, contributing $30 million to a COVID-19 Relief Fund and $775 million to a Small Business Stimulus Package during this time.

Goldman Sachs - Awards and Achievements

The company has won many awards and achievements, some of which are listed below:

  • The Wall Street Journal – 250 Best Managed Companies of 2022 (December 2022) Ranked 105
  • Euromoney – Market Leaders Awards (November 2022) Ranked 1 in Chile and Ranked 2 in Brazil
  • Goldman Sachs has been recognized for the International Financing Review (IFR) Awards – Bank of the Year
  • Achieved the Fintech Futures Banking Tech Awards – Best Use of Cloud
  • CNBC Select – 5 Best Personal Loans of December 2022 - Marcus by Goldman Sachs named Best for Debt Consolidation
  • Received the Interbrand – Best Global Brands by ranking 49
  • The Banker – Investment Banking Awards (October 2022) Investment Bank of the Year
  • FinTech Futures – Banking Tech Awards USA (May 2022) - Best Digital Initiative – Marcus by Goldman Sachs products and app
  • Mergers & Acquisitions – Middle-Market Deals of the Year (May 2022) - Industrials Deal of the Year
  • Ranked No. 19 in the Fortune – Modern Board 25 (April 2022)

Goldman Sachs - Competitors

The top competitors of Goldman Sachs are:

  1. Morgan Stanley
  2. JP Morgan Chase
  3. Canadian Imperial Bank of Commerce (CIBC)
  4. UBS Group
  5. Bank of New York Mellon
  6. Wells Fargo
  7. Bank of America
  8. Credit Suisse
  9. Merrill Lynch & Co Inc.
  10. Macquarie Group
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Goldman Sachs - Growth

The company especially focuses on investments and technology-driven companies. The Merchant Banking Division has invested more than $5 billion in strategic capital. For entrepreneurs and management to execute long-termed growth plans. This process is, going on since 1994. They usually tie up with strong management teams. This formula helps the company to grow more. Giving value to customers, shareholders, and partners is the key to success. The target of the team is investments ranging between $20 - 250+ million in companies. A proven proper management team is also very essential to walk toward growth.

Goldman Sachs - Future Plans

While the company remains one of the leading financial and investment banking companies, it is reported that the company is soon going to change its business strategy. The company plans to expand its transaction banking and wealth management operations. Given the economic crisis going on, the company is looking for ways to change its overall business plan soon.

FAQs

When was Goldman Sachs founded?

Goldman Sachs was founded in 1869.

Who are the founders of Goldman Sachs?

Marcus Goldman and Samuel Sachs are the Founders of Goldman Sachs.

What services does Goldman Sachs provide?

Goldman Sachs provides a range of financial services to individuals, corporations, and governments. Some of the services offered by Goldman Sachs include:

  • Investment Banking
  • Securities
  • Asset Management
  • Consumer and Commercial Banking
  • Investment Advisory
  • Risk Management
  • Securities Lending

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