The Goldman Sachs Group operates as a major bank holding company that deals with securities services, investment banking, and investment management. The firm was established in 1869 by a German Jewish immigrant known as Marcus Goldman. A couple of years later, he was joined by his son-in-law Samuel Sachs. As a result, the firm’s name was changed to Goldman Sachs. The firm was able to make a name for itself by initiating the use of commercial paper for entrepreneurs.
In 1896, Goldman Sachs was invited to join the New York Stock Exchange.
During the preliminary years of the 20th century, the group was able to play a part in setting up the initial public offering market. It became one of the first companies to hire employees with MBA degrees from the most prestigious business schools. In addition to that, the group was also able to manage one of the biggest IPOs that still exist to date, such as the Sears, Roebuck and Company in 1906.
Nowadays, the group’s headquarters are located in New York City’s 85 Broad Street lower Manhattan area. The group also maintains a secondary office at 30 Hudson Street, Jersey City, New Jersey as well as offices in global financial centers.
Goldman Sachs provides its clients with advices regarding acquisitions and mergers as well as asset management and underwriting services. The group serves as a primary dealer in the US Treasury securities market.
Earlier this year, Goldman Sachs was able to announce strong quarterly earnings. The group’s profits was pushed forward by revenues totaling $6.56 billion in its fixed-income, currency and commodities unit. All in all, the group’s revenue was able to reach a total of $9.43 billion, showing a 13% increase from the first quarter of last year’s recorded review.
