Goldman Sachs Group Overview 

Goldman Sachs Group

Introduction

 Ranked #37 on the Forbes’ 2022 Global 2000 list as one of the largest companies in the world in terms of sales, profit, assets, ad market value, Goldman Sachs Group is a North American financial organization that deals with the provision of all financial related services through global investment banking, sale and purchase of securities and stocks as well as management of investment for private and corporate entities as well as individual. In its entirety, Goldman Sachs Group focuses on four contingent business segments which include, Investment Banking, Asset Management, Wealth and Consumer Management, as well as the Global Market.  Goldman Sachs Group Inc., as a corporation, engages in diverse financial products and services to ensure that the financial needs of all economic sectors and segments and catered for, which include but are not limited to, the private sector, the public sector, as well government corporations such as the health sector, the education sector, the health sector, et cetera. In this article, however, you will be shown a more detailed, comprehensive, and extensive review of Goldman Sachs Group Inc. The kickoff will begin with the company’s key facts and it will flow to all aspects of its operations, and dealings. As such, all relevant information detailing its key facts, historical background, its divisions and segments, its financial overview, as well as its pros and cons will be concisely covered to enable you to understand the significant and major elements of the global financial corporation as quickly as possible.       

Key Facts 

Founding Year: Goldman Sachs Group Inc., was founded in the year 1869, approximately 153 years ago.     

Industrial Ranking: Goldman Sachs Group Inc., is proud to be ranked in the 37th position on the Forbes Global 2000 list, indicating the company as one of the largest companies in America, as well as the world at large. Additionally, the corporation also ranks #57 on Fortune 500, indicating the company as one of the largest corporations with higher revenue in the United States.      

Company Type: A Public Corporation Company (PLC)     

Market Reach:  Goldman Sachs Group Inc., operates globally, and has its offices mounted strategically in all major financial centers across the world.    

Industry Type: Financial Services   

Trading Type: Goldman Sachs Group Inc., is traded on the New York Stock Exchange (NYSE) market under the ticker symbol, GS. The company’s stock is a component of DJIA, as well the S&P 100 and S&P 500 respectively.   

International Security Identification Number (ISIN): US38141G1040 

Workforce Strength: Goldman Sachs Group Inc. has a total number of 43 000 employees in its workforce globally as of the 2021 report.     

Subsidiaries: Marcus by Goldman Sachs, Goldmn Sachs Capital Partners, Goldman Sachs Personal Financial Management, Goldman Sachs Ayco Personal Financial Management 

Historical Review 

Founded by a visionary American entrepreneur, Marcus Goldman in the year 1869 in New York City, New York, United States, Goldman Sachs Group Inc., now doubt has evolved massively since its inception. The company is known for its demonstration of international financial expertise and banking knowledge. This section would do a quick review of the company’s journey and transition from its inception in 1869 up to the present modern age. 

A few years after Marcus Goldman founded the company, his son-in-law name Samuel Sachs joined the company in the year 1882. In a bid to increase the stakeholders of the company, a couple of years later (1885), Marcus brought in two more persons to join the team – one of them is his son named Henry Goldman, and the other, his son-in-law with the name, Ludwig Dreyfuss. The team expansion led to the adoption name of the company’s name even today, “Goldman Sachs& Co.” 

In the year 1896, Goldman Sachs Group Inc. joined the NYSE market and was recognized as the company that pioneered commercial paper for entrepreneurs. In the year 19898, Goldman Sachs Group Inc., recorded its overall capital, amounting to the total sum of $1.6 Million USD. 

The year 1906 saw the company’s advancement into the public market with its first initial public offering (IPO). Several companies attached to the company’s IPO include Roebuck and Company, Julius Rosenwald, Sears, Continental Can as well as F.W. Woolworth. 

In the year 1928, Goldman Sachs Group Inc., established a closed-end fund to operate under the name, the Goldman Sachs Trading Corporation. However, the following year after the launching of the fund in 1929, the fund collapsed as a result of the market crash that year. Goldman was, however, accused of being the cause of the collapse due to his manipulation of the share price and insider trading practices. 

In the year 1957, Goldman Sachs Group Inc., apex headquarters was moved from its former location to 20 Broad Street, NYC, New York. And in the year 199, Goldman’s trading franchise was rebuilt as a result of the inclusion of Levy in the partnership. 

In the year 1970, the company witness a huge financial loss accounting for a total loss of $80 Million USD in the commercial paper when Penn Central Transportation witnessed liquidation. The consequence of the loss is enormous as the company faced several lawsuits by SEC, reputation degradation as well as operational topsy-turvy. 

In the year 1981, Goldman Sachs Group Inc., bought a commodity trading company in partnership with the Fixed Income division, operating under the name J. Aron & Co. The company’s market niches are coffee and gold markets. The merger however led to Lloyd Blankfein, an ex-CEO of Goldman,  joining the company. 

In the year 1986, Goldman Sachs Group Inc. founded its Asset Management entity tailored to manage its mutual and hedge fund businesses. During this year, the firm underwent a series of acquisitions, and provided IPO advice and consultation services to several entities such as General Electric, and as the company was recognized in the UK as the first American Bank to be ranked on the top 10 list of the corporation with the largest acquisitions. Additionally, in that same year, Goldman Sachs Group Inc. also emerges as the world’s first financial institution to disseminate its investment research digitally as well as create its first IPO of an original issue deep discounted bond.     

As the year whirls, the company continued its growing pace by acquiring more companies and building more franchises in all major financial segments. However, during this transition period, the company witnessed several successes as well as losses so by September 21, 2008, the company alongside Morgan Stanley which happen to be the last two banks in the United States recognized as investment banks announced their intentions to become traditional bank holding companies. In the same year 2008, the company founded an internship program tagged with the name “returnship.” It was formed in a bid to avail temporal employment offers to intend and willing workers. 

In the year 2013, April, Goldman Sachs Group Inc., and Deutsche Bank oversaw a bond offering rolled out by Apple Inc., amounting to a total sum of $17 Billion USD, making it hit the Guinness Book of Records as the largest corporate bond deal in the history of business. 

In the year 2016, Goldman Sachs Group Inc. extended its market tentacles into the consumer financial product market. And in April of the same year, the company launched a direct bank whose services would center on catering to consumers’ related financial needs. The Direct bank is to operate under the name, Goldman Sachs Bank USA.  

During the 2017 viral protest in Venezuela, Goldman Sachs Group Inc. bought a bond from the Central Bank of Venezuela, bond amounting to a total sum of  $2.8 Billion USD. And in the following year, 2018, the company bought a company operating as a personal finance venture under the name, Clarity MONEY. In the same year, the company also bought Genstar for a total sum of $3 Billion USD as well as financial advising company under the name United Capital Financial Advisers LLC for a total sum of $750 Million USD. 

In the year, 2022, September, due to a significant decline in the revenue generation of the company which was reported in July, Goldman Sachs Group Inc., pronounced its intention to lay off a significant number of employees globally, the exact number is, however, yet to be disclosed.     

Business Segments and Divisions 

 In its entirety, Goldman Sachs Group focuses on four contingent business segments which include: 

Investment Banking 

Asset Management 

Wealth and Consumer Management 

Global Market 

Subsidiaries 

 MARCUS BY GOLDMAN SACHS  

GOLDMAN SACHS  

CAPITAL PARTNERS 

GOLDMAN SACHS PERSONAL FINANCIAL MANAGEMENT 

GOLDMAN SACHS AYCO PERSONAL FINANCIAL MANAGEMENT 

Financial Overview 

 Revenue: $62.8 Billion USD (Forbes 2022) 

Profits: $18.7 Billion USD (Forbes 2022) 

AUM: $2.5 Trillion USD (2021) 

Total Equity: $109.9 Billion USD (2021)  

Total Asset: $1.5 Trillion USD (2021) 

Pros and Cons 

The reviews on Glassdoor and Indeed.com reveals the following pros and cons of Goldman Sachs Group Inc.

Pros 

Industrial Expertise 

Competitive Remuneration 

Flexibility to expand

Tons of Resources Available 

Variety of Financial Products  

Cons 

Workplace Politics 

Relatively Low Management Support for Employees 

Conclusion 

Finally, based on the foregoing comprehensive summary, detailing all aspects of Goldman Sachs Inc., including history, financial review, business niches, and subsidiaries, as well as its pros and cons, I hope your expectation highlighted in the introductory portion of this paper have been addressed. However, on the off chance that you are yet to completely absorb all that is drafted in this piece at once, I recommend that you review it over and over again until you are in sync with the entire information.