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Leading U.S. investment bank: The Goldman Sachs Group (GS) (1869)

The Goldman Sachs Group, Inc. (NYSE:GS) was founded in 1869 and is headquartered in New York City, New York, USA. It has 39,100 full-time employees. It is a global investment bank, securities and investment management company with a history of the world One of the oldest and largest investment banks.

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Goldman Sachs (GS):

The Goldman Sachs Group, Inc. is an American multinational investment banking and financial services company headquartered in Manhattan, New York City. The Goldman Sachs Group provides investment management, securities, asset management, prime brokerage and securities underwriting services. Goldman Sachs Group is one of the world’s largest investment institutions; at the same time, it is the first-tier dealer of Treasury Securities and a well-known market maker in the usual sense. The Goldman Sachs Group also owns a direct bank-Goldman Sachs Bank USA (Goldman Sachs Bank USA). The Goldman Sachs Group was established in 1869 and its headquarters is located at 200 West Street in Lower Manhattan; it also has offices in major financial centers around the world.

As a result of participating in asset securitization during the subprime mortgage crisis, Goldman Sachs suffered losses in the global financial crisis from 2007 to 2008. As part of the troubled assets rescue plan, Goldman Sachs received a $10 billion investment from the US Treasury Department; the financial relief plan originated from the “Emergency Economic Stability Act.” The investment began in November 2008 and repayment began in June 2009.

Many of Goldman Sachs’ former employees will be transferred to government positions. The more well-known ones are the former US Treasury Secretary Robert Rubin and Henry Paulson, and the current US Treasury Secretary Stephen Mennuchin; former chief economic adviser Gary · Cohen, European Central Bank President Mario Draghi, former Bank of Canada President and current Bank of England President Mark Carney, former Australian Prime Minister McCann Tambo, etc. In addition, former employees of the Goldman Sachs Group have also managed the New York Stock Exchange, the World Bank, and competitors such as Citigroup and Merrill Lynch.

Goldman Sachs has 41 representative offices in 23 countries and regions around the world; including New York, Chicago, Frankfurt, London, Tokyo, Taipei, Beijing, Shanghai and Hong Kong. The Asia-Pacific region headquarters is located in Hong Kong. Set up offices in Beijing and Shanghai in Mainland China, and established a joint venture securities company Goldman Sachs Gao Hua.

As of May 2020, in terms of total revenue, Goldman Sachs ranked 62nd among the Fortune 500 companies.

Goldman Sachs (GS) existing operations:

  1. Investment banking (investment banking) accounts for 21% of the company’s total income;
  2. Investing and lending accounted for 16% of the company’s total income;
  3. Institutional Client Services (Institutional Client Services) accounts for 45% of the company’s total revenue;
  4. Investment management business accounts for 18% of the company’s total revenue.

Goldman Sachs (GS) History:

  • Goldman Sachs was founded in 1869 by German immigrant Marcus Goldman.
  • In 1882, his son-in-law Samuel Sachs joined the company.
  • In 1885, Marcus Goldman brought his sons Henry and Ludwig Dreyfuss into the company and named the company Goldman Sachs.
  • In 1896, Goldman Sachs IPO listed on the New York Stock Exchange.
  • On December 4, 1928, the company announced the establishment of Goldman Sachs Stock Exchange.
  • In 1929, the Wall Street stock market crash, Goldman Sachs stock price plummeted.
  • In 1956, Goldman Sachs was the foremost consulting company for the Ford Group’s IPO.
  • It took Sidney Weinberg 30 years to restore Goldman Sachs, which suffered a fiasco from the “financial crisis”.
  • In the 1970s, Goldman Sachs emerged in the investment banking world. At that time, “hostile takeovers” emerged in the capital market. Goldman Sachs took the lead in playing the banner of “reverse takeover consultants” to help companies that have suffered hostile takeovers to invite friendly bidders to participate in the bidding, raise the purchase price or take antitrust lawsuits to attack malicious Acquirer. Goldman Sachs suddenly became the angel of hostile takeovers.
  • In 1966, the business income of Goldman Sachs’ M&A division was $600,000. By 1980, the income of the M&A division had risen to approximately $90 million. In 1989, the annual revenue of the M&A department was US$350 million. Only 8 years later, this indicator rose to US$1 billion again.
  • In 1981, Goldman Sachs acquired J. Allan Corporation and entered a new field of foreign exchange transactions, coffee transactions, and precious metals transactions, marking the beginning of diversification of Goldman Sachs, surpassing the scope of traditional investment banking agents and consultants, and obtaining fixed income.
  • In 1984, Goldman Sachs established its Asia Pacific headquarters in Hong Kong.
  • In the 1990s, Gao Bloom set up a capital investment business and established a GS Capital Cooperative Investment Fund, which relied on equity underwriting, bond underwriting or the company’s own fund to make long-term investments for 5 to 7 years, and then sell them for profit.
  • In 1994, Goldman Sachs invested $1.35 billion to obtain 28% of Ralph Lauren ‘s shares. Three years later, it sold 6% of the shares to cash out to $487 million. The remaining shares appreciated to more than $5.3 billion.
  • In 1994, Goldman Sachs established representative offices in Beijing and Shanghai.
  • In 1997, Goldman Sachs served as the lead underwriter for China Mobile’s US$4 billion IPO.
  • In 1999, Goldman Sachs (Goldman Sachs) IPO-Goldman Sachs decided: the company’s partners hold 48% of the shares, 22% of the shares are allocated to employees, 18% to retired partners and two long-term investors of Goldman Sachs, Sumitomo The bank and Kamehameha Activities Assn of Hawaii, the remaining approximately 12% of the shares are held by the public. Currently 67% of Goldman Sachs’ shares are held by institutions (such as pension funds and other banks).
  • In 1999, Goldman Sachs acquired the Hull Trading Company for $531 million, which was one of the world’s major trading markets at the time. During this period, Goldman Sachs has been focusing on investment banking and securities trading.
  • In September 2000, Goldman Sachs spent $6.3 billion to acquire Spear, Leeds, & Kellogg, one of the largest and most professional companies on the New York Stock Exchange. It also advised the Chinese government and provided the World Bank with its first electronic bond issuance.
  • In 2003, Goldman Sachs and the Australian investment bank JBWere established a joint venture company, accounting for 45% of the shares.
  • In May 2006, Paulson left Goldman Sachs to take up the post of US Secretary of the Treasury. Goldman Sachs’ former employees are spread across the leadership of the New York Stock Exchange, the World Bank, the US Treasury, White House staff, and financial institutions such as Citigroup and Merrill Lynch .
  • In the 2007 subprime mortgage crisis, Goldman Sachs made a profit by short selling subprime mortgage bonds in the summer of 2007.
  • In 2007, Goldman Sachs opened a full-service broker-dealer in Brazil.
  • In 2007, GS expanded its investment in companies, including: Burger King , McJunkin Corporation, Alliance Atlantis Communications Inc., Canwest Global Communications Corporation.
  • On September 21, 2008, Goldman Sachs and Morgan Stanley , the major investment banks in the United States for the past two years, issued a statement that they would become traditional bank holding companies, thus ending the era of investment banks on Wall Street.
  • On September 23, 2008, Berkshire Hathaway agreed to buy US$5 billion in preferred stock of Goldman Sachs and obtained US$5 billion worth of 5-year warrants for the purchase of common stock.
  • In October 2008, Goldman Sachs also received a portion of the US Treasury’s Troubled Asset Relief Program (TARP) worth $10 billion in preferred stock investment.
  • In June 2009, Goldman Sachs paid off the US Treasury Department’s TARP investment and 23% interest.
  • In 2009, the private wealth management sector JBWere sold to Goldman Sachs and National Australia Bank (National Australia Bank) joint venture.
  • In 2010, Goldman Sachs was the most active high-frequency trading investment bank.
  • In 2013, Goldman Sachs underwritten the $2.913 billion Grand Parkway System Toll Revenue Bond for Houston, Texas (one of the fastest-growing regions in the United States). The bond will be repaid from toll income.
  • In June 2013, Goldman Sachs purchased a loan portfolio from Brisbane-based Suncorp Group (ASX:SUN), which is one of Australia’s largest banks and insurance companies. Purchased a loan portfolio of A$1.6 billion at a price of A$960 million.
  • In September 2013, Goldman Sachs Asset Management reached an agreement with Deutsche Asset & Wealth Management to acquire its stable value business (as of June 30, 2013, total regulatory assets of 21.6 billion US dollars).
  • In August 2015, Goldman Sachs agreed to acquire GE Capital Bank’s online deposit platform under General Electric . The transaction gave Goldman Sachs a stable and cheap source of funding.
  • In March 2016, Goldman Sachs agreed to acquire the financial technology startup Honest Dollar, a digital retirement savings tool created by American entrepreneur Whurley, focused on helping small business employees and self-employed workers obtain affordable retirement plans . The terms of the transaction were not disclosed.
  • In April 2016, Goldman Sachs released its (only) online savings bank-GS Bank.
  • In October 2016, Goldman Sachs Bank USA (Goldman Sachs Bank USA) began to provide free personal loans under the Marcus by Goldman Sachs brand.
  • In May 2017, during the 2017 Venezuelan protests, Goldman Sachs purchased $2.8 billion in PDVSA 2022 bonds from the Central Bank of Venezuela.
  • In April 2018, Goldman Sachs acquired Clarity Money, a personal finance startup, and merged it into Marcus by Goldman Sachs. The acquisition is expected to add more than 1 million customers to the Marcus business.
  • August 2019, Goldman Sachs (Goldman Sachs), along with Wells Fargo Bank (Wells Fargo), NVIDIA and Nexus Venture Partners, the investment H2O.ai. Under the deal, Goldman Sachs H2O.ai Jade Mandel will join the board of directors.
  • In February 2020, Goldman Sachs, Aquiline and World Innovation Lab jointly raised US$51 million and invested in New York-based software company Unqork to accelerate global expansion and enter New industries outside of insurance and financial services.

Goldman Sachs (GS) investment:

Goldman Sachs is a leading financial services company with a history of nearly 150 years in the United States. Its absolute strength and absolute brand have created the value of the company. For long-term investors, Goldman Sachs GS is a good target!

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