Our History in Moments

In 2000, Goldman Sachs opens an office in Salt Lake City, Utah. The office is initially staffed to provide service and technology support for the firm’s newly launched online platform for private wealth clients, GS.com. In the ensuing decades, the office grows and diversifies to become one of the firm’s largest and strategically important locations and one of the largest private employers in Salt Lake City.

In 2019, Goldman Sachs expands hiring targets aimed at increasing the diversity profile of its people, recognizing the many benefits of a more inclusive workplace.

Fischer Black and Robert Litterman revolutionize portfolio management in 1990 with the creation of the Black-Litterman Global Asset Allocation Model – quickly adopted for optimal portfolio allocation across international equity, fixed income and currency markets.

A model of sustainability, the Bengaluru campus features clean energy sources and outdoor parkland.

Hurricane Sandy floods the streets of New York City in October 2012, disrupting markets and damaging surrounding communities. Goldman Sachs responds with US$10 million in support of recovery efforts and the work of more than 1,200 of its people through the firm’s Community TeamWorks initiative.

After the retirement of Lloyd Blankfein in 2018, David Solomon is appointed CEO and chairman of Goldman Sachs.

After the departure of Hank Paulson in 2006, Lloyd Blankfein is named Chairman and CEO of Goldman Sachs, beginning a tenure marked by historic challenge and innovation.

In 2014, Goldman Sachs makes a wealth of proprietary insights and analytics available to its institutional clients with the launch of Marquee. With the ability to integrate directly with clients’ own technology platforms via APIs, Marquee offers access to the firm’s market insights, analytics tools, execution capabilities, and data and developer services.

As the firm transitions from a partnership to a publicly-held company in 1999, Hank Paulson is named Chairman and CEO.

In 2007, Goldman Sachs serves as lead manager of ICICI Bank Limited’s US$4.9 billion equity offering, the largest in history by an Indian issuer.

Building on its own leadership in market making and clearing, Goldman Sachs acquires Spear, Leeds & Kellogg in 2000 to become one of the leading market makers of equities and options in the US marketplace.

Goldman Sachs makes its mark in London with takeover defense of Thomas Tilling in 1983.

Goldman Sachs helps facilitate Japanese retailer Ito-Yokado’s participation in the Yankee bond market in 1977.

Goldman Sachs becomes one of the first international securities companies permitted to open a banking subsidiary in Japan in 1991.

In 1991, the firm becomes a member of the Frankfurt Stock Exchange, signifying its commitment to the German marketplace.

Capital flight forces a depreciation of the Mexican peso in late 1994, creating a liquidity crisis that threatens global financial markets and unleashes a banking crisis and severe recession in Mexico during 1995.

The launch of GS Financial Workbench^SM in 1995 marks the firm’s first significant effort to share some of its internal technologies, including tools, data, and analytics, with institutional clients.

In 1930, Sidney Weinberg becomes senior partner, presiding over the firm’s recovery from the 1929 financial crash and more than three decades of growth and innovation.

Goldman Sachs launches 10,000 Small Businesses UK in 2010, seeking to boost lagging productivity by energizing small business growth and creating jobs in the United Kingdom.

Goldman Sachs is the sole agent of a private placement of JPY600 billion (US$5.35 billion) for Toshiba Corporation in 2017, raising capital Toshiba needs to avoid being delisted from the Tokyo Stock Exchange at a time when a public listing would be challenging for the beleaguered tech company.

John Weinberg and John Whitehead are named co-heads of Goldman Sachs in 1976, presiding over some of the firm’s most significant initiatives and growth during their joint tenure of nearly eight years.

After US markets plunge on October 19, 1987, equity markets around the world decline, underscoring the interdependence of global financial markets.

To bring Japanese commercial paper to a skeptical US market in 1971, Goldman Sachs arranges a US bank letter of credit to back up the offering from Mitsui & Co., Ltd., a centuries-old Japanese trading company.

In 1991, Goldman Sachs brings its London-based staff under a single roof in a new office building on Fleet Street in London that incorporates functional, collaborative work spaces and the latest technology. Peterborough Court will serve as the firm’s European headquarters for nearly three decades.

In 1910, Walter Sachs becomes a partner of the firm founded by his grandfather Marcus Goldman, where he works alongside his father and brothers.

Goldman Sachs turns 75 in 1944 as World War II continues to engulf much of the globe and world leaders convene to plan for post-war governance, economic reconstruction, and financial stability.

Goldman Sachs turns 50 in 1919, the year the Treaty of Versailles is signed ending World War I and the world sees the first nonstop trans-Atlantic flight.

The Black-Derman-Toy model for pricing fixed income derivatives is developed at Goldman Sachs in 1986 and used extensively in-house prior to its publication several years later.

In 1904, the New York City subway system opens at City Hall, launching a new era in mass transit in one of the world’s largest cities.

In 1988, Goldman Sachs advises UK confectioner Rowntree when it is the target of the largest takeover battle in British corporate history.

When Penn Central, the largest railroad in the country, declares bankruptcy in 1970, liquidity vanishes in the commercial paper market, roiling the market and threatening the very existence of Goldman Sachs, the market leader with nearly 300 other commercial paper-issuing clients.

In 1967, Gus Levy executes a record-breaking block trade of over one million shares of Alcan Aluminum worth more than US$26.5 million.

Goldman Sachs is retained as US advisor in the privatization of the UK government’s remaining interest in British Petroleum Company PLC, the largest sale ever by HM Treasury. When it coincides with the 1987 "Black Monday” stock market crash, Goldman Sachs absorbs the largest loss the firm has ever taken.

In 1983, Goldman Sachs opens its newly constructed headquarters building at 85 Broad Street in New York City’s financial district.

In 1985, Goldman Sachs is selected as one of the first six non-Japanese firms to join the Tokyo Stock Exchange, allowing the firm to compete on equal footing in the Pacific Basin with some of Japan's largest banks.

Leading an investment group in partnership with David Rockefeller, Goldman Sachs purchases Rockefeller Center in 1995, paving the way for the firm’s growing involvement in real estate investment.

The firm’s strategic outreach to shareholders helps Mittal Steel secure the EUR26.9 billion acquisition of European steel giant Arcelor in 2006.

In 1970, Goldman Sachs opens its first international office on Goldsmith Street in London.

Marcus Goldman’s youngest son, Henry Goldman, joins the family business in 1885.

The Goldman Sachs Foundation and the International Finance Corporation create the Women Entrepreneurs Opportunity Facility in 2014 to provide much-needed financing to female entrepreneurs around the globe.

Goldman Sachs leads the Conrail IPO in 1987, the largest ever public offering in the United States and an important chapter in the history of American railroads.

In 1929, Goldman Sachs announces it will build a new 20-story headquarters at 30 Pine Street, the first-ever construction project by the firm.

Community TeamWorks, the firm’s flagship volunteering initiative, is launched in 1997. The program gives employees a day off from work to participate in team-based projects with nonprofit organizations in the community.

In 1994, Jon Corzine is named senior partner of Goldman Sachs.

In 1986, Goldman Sachs accepts a US$500 million investment and limited partnership interest by Sumitomo Bank in order to meet capital requirements.

The formation of the Merchant Banking Division in 1998 reflects the firm’s expanding role in principal investing activities.

In 1882, Marcus Goldman takes on Samuel Sachs, the husband of his youngest daughter, as a junior partner.

In 1869, Marcus Goldman starts a small business buying and selling promissory notes in Lower Manhattan. His strong relationships and reputation as an honest broker form the foundation for a company that will grow to become one of the most influential financial institutions in the world.

In one of the firm's most important industry innovations, John Whitehead submits a memo to Sidney Weinberg in 1956 outlining the establishment of Wall Street's first marketing arm for investment banking, later known as Investment Banking Services (IBS).

Goldman Sachs is the lead manager of Indian Petrochemicals Corporation Limited (IPCL)’s US$85 million 1994 offering of global depositary receipts — the first international offering for an Indian government-owned company.

In 2001, Goldman Sachs’ Global Investment Research Division publishes the report, "Build Better Global Economic BRICs," coining the acronym for the four countries that would reshape the world economy– Brazil, Russia, India and China.

In 2004, the firm entered into a landmark public-private partnership with the Wildlife Conservation Society to establish the Karukinka Natural Park on the island of Tierra del Fuego, Chile.

On November 29, 2005, Goldman Sachs breaks ground for its new, state-of-the-art headquarters at 200 West Street, consolidating all of the firm’s New York City people in one building and once again demonstrating its commitment to Lower Manhattan.

Goldman Sachs launches 10,000 Women in 2008, a program dedicated to providing women in underserved communities around the world with a business and management education.

Goldman Sachs launches the Analyst Impact Fund in 2016, providing a creative, collaborative opportunity for the firm’s junior talent to compete with their peers for grants to benefit the nonprofit organizations of their choice.

In 2016, Goldman Sachs launches Marcus by Goldman Sachs, an online platform offering personal loans and savings accounts to retail clients.

In 1995, Goldman Sachs makes changes to its governance structure, including the formation of a new committee aimed at enhancing the strength and cohesion of one of the firm’s most valuable assets: the partnership.