Our History in Moments

Since 1869, Goldman Sachs has been committed to serving our clients with excellence. Learn more about our culture of teamwork and client service.

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Firm Opens Salt Lake City Office to Support New Online Venture

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.

Clients

Goldman Sachs Deepens and Expands Initiatives to Foster Greater Diversity and Inclusion

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.

Culture

Building on a Strong Foundation, Realty Management Division Grows Out of Archon Acquisition

In 2012, Goldman Sachs’ Realty Management Division (RMD) is created as a new, standalone division from former subsidiary Archon Group, offering a fully integrated real estate services platform.

Clients

Goldman Sachs Gives Epitomizes Culture of Giving Back

In 2007, Goldman Sachs launches a donor advised fund, Goldman Sachs Gives, to which partners recommend nonprofit organizations to receive grants.

Service , Culture

Innovative Black-Litterman Global Asset Allocation Model Is Developed at Goldman Sachs

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.

Clients , Innovation

New Bengaluru Campus Becomes Firm’s Third-Largest Office

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

Globalization , Culture

Launch With GS Commits US$500 Million to Narrow Investing Gaps

The firm deploys more than US$100 million through Launch With GS, funding historically underserved entrepreneurs and emerging business leaders.

Clients , Innovation

Firm Helps to Rebuild US Communities Following Hurricane Sandy

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.

Globalization , Service

Pine Street Created to Foster Development of Exceptional Leaders

Following Goldman Sachs’ initial public offering in 1999, the firm launches Pine Street, an innovative leadership development initiative that demonstrates the firm’s commitment to its history and to ensuring that its culture of leadership excellence remains a competitive advantage.

Culture

Firm Helps Build Landmark European Aerospace Consortium

Series of mergers creates European Aeronautic Defense and Space Company (EADS), later renamed Airbus Group.

Globalization , Clients

David Solomon Is Appointed CEO and Chairman

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

Leadership

Lloyd Blankfein Assumes Leadership 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.

Leadership

With Marquee, Institutions Access Data, Cutting-Edge Ideas From Goldman Sachs

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.

Clients , Innovation

With Environmental Policy Framework, the Firm Establishes its Commitment to Sustainable Economic Growth

Goldman Sachs establishes its Environmental Policy Framework in 2005, serving as a leading voice in the financial services industry addressing climate change and other critical environmental challenges.

Clients , Innovation

Hank Paulson Is Named Chairman and CEO

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

Leadership

1994: NAFTA Goes into Effect, Nelson Mandela Assumes South African Presidency, “Chunnel” Opens and General Motors tops Fortune 500

As Goldman Sachs reaches the 125-year milestone in 1994, the firm is a truly global enterprise, with 34 offices and a team of 9,000 around the world providing a wide range of services within and across borders.

Globalization , Culture

Reinforcing its Commitment to Europe, Goldman Sachs Opens Paris Office

In 1987, Goldman Sachs begins operations in Paris, its third office in Europe.

Globalization , Culture

The Sachs Family Helps Shape a Nascent Goldman Sachs, Fortifies the Partnership in the Face of Adversity

Beginning in 1882, generations of the Sachs family provide leadership to the firm for more than a century.

Leadership

Goldman Sachs Leads Historic Equity Offering in India

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.

Goldman Sachs is One of the “100 Best Companies to Work For” in the United States

Goldman Sachs is named to Fortune’s list of “100 Best Companies to Work For” in 1998, the ranking’s inaugural year in the magazine.

Culture

Goldman Sachs Acquires Spear, Leeds & Kellogg, a Leader in Securities Clearing and Execution

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.

Clients

Third Leg of Australian Telco Privatization is a Success

In 2006, Goldman Sachs is one of four global joint coordinators in the third leg of the Australian government’s privatization of national telecommunications company Telstra in a challenging market environment.

Clients

“Big Bang” Deregulation Bolsters London’s Position as Global Finance Center

In October 1986, the London Stock Exchange is deregulated. Known as the “Big Bang,” these sweeping rule modifications strengthen London’s position as a global financial hub.

Globalization

Playing Defense in London: BTR Acquisition of Thomas Tilling

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

Clients

With Gao Hua Joint Venture, the Firm Establishes a Foothold in China's Domestic Financial Markets

Goldman Sachs announces a joint venture with Beijing Gao Hua Securities in 2004, strengthening its position in China’s domestic financial markets.

Globalization , Clients

Firm Helps Retailer Ito-Yokado Tap into the US Bond Market

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

Globalization , Clients

Goldman Sachs, One of the First International Banks to Open a Subsidiary in Japan

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

Globalization , Clients

Goldman Sachs Joins The Frankfurt Stock Exchange

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

Globalization , Clients

Capital Flight Destabilizes the Mexican Economy in Mid-1990s

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.

Globalization

GS Financial WorkbenchSM Breaks New Ground in Firm’s Digital Offerings to Clients

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

Clients , Innovation

Sidney Weinberg Leads the Firm for More than Three Decades

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.

Leadership

10,000 Small Businesses Fuels Innovation and Productivity Gains in the United Kingdom

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.

Service , Culture

How Innovative Thinking Helped Toshiba Stay Afloat

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.

Clients

John Weinberg and John Whitehead Become Co-Heads

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.

Leadership

Global Financial Markets Crash on Black Monday

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

Globalization

Firm Facilitates First US Offering of Commercial Paper Issued by a Japanese Company

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.

Clients

Seven Insurers Buy US$225 Million Stake in Goldman Sachs

In 1989, Goldman Sachs forms a ten-year consortium with seven insurance companies that collectively contribute US$225 million for a non-voting stake in the firm.

Clients

Former Prime Minister Margaret Thatcher Inaugurates Goldman Sachs’ New European Headquarters

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.

Globalization , Culture

Sachs Family Legacy Continues as Walter Sachs Becomes Partner

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

Leadership

1944: D-Day, the Bretton Woods Conference, and the Dawn of the IMF and the World Bank

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.

Globalization , Culture

1919: Treaty of Versailles, the First Trans-Atlantic Flight, and Rotary Dial Telephones

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.

Globalization , Culture

Black-Derman-Toy Model Developed by Team at Goldman Sachs

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.

Clients , Innovation

New York City Subway System Opens

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.

Globalization

First US Social Impact Bond Financed by Goldman Sachs

In 2012, in partnership with the City of New York and Bloomberg Philanthropies, Goldman Sachs finances the first social impact bond in the United States, a US$9.6 million loan aimed at reducing the rate of recidivism among adolescents incarcerated on Rikers Island.

Service , Innovation

Sidney Weinberg Serves on War Production Board

Sidney Weinberg takes a leave of absence from the firm to serve on the War Production Board during World War II.

Leadership , Service

Goldman Sachs Advises British Candymaker Facing Historic Takeover Bid

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

Clients

NTT DoCoMo IPO Cements Goldman Sachs' Leadership Position in Japan

Goldman Sachs jointly lead manages the 1998 initial public offering of NTT Mobile Communication Network, Inc., (NTT DoCoMo), the largest IPO in history at the time. Coming in the midst of Japan's worst recession since World War II, the offering restores confidence in global capital markets at a time when it is critically needed.

Clients

Penn Central Bankruptcy Sends Shock Waves Through Commercial Paper Market

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.

Clients

Goldman Sachs Sets Block Trading Record With Alcan Aluminum Trade

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.

Clients

Goldman Sachs Completes British Petroleum Privatization Under Challenging Circumstances

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.

Clients

New Global Headquarters Opens at 85 Broad Street

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

Culture

Commercial Paper Trading Enters the Digital Age

In 1985, Goldman Sachs introduces the first-ever computerized commercial paper dealer system, replacing the telephone and increasing the speed and accuracy of commercial paper transactions.

Clients , Innovation

Goldman Sachs Joins the Tokyo Stock Exchange

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.

Globalization , Clients

Ping An Insurance Becomes Goldman Sachs' First Principal Investment in China

Goldman Sachs makes its first principal investment in China in 1994 with the US$35 million investment in Ping An Insurance Company. The deal makes Ping An the first Chinese insurer to have foreign shareholders.

Clients

Goldman Sachs Adds Iconic NYC Property to Its Real Estate Portfolio

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.

Clients

Goldman Sachs Advises Mittal Steel on Historic Acquisition of Arcelor SA

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

Clients

IPO of AIG's Asian Unit is the Largest Ever of an Insurance Company

In 2010, Goldman Sachs serves as joint global coordinator and joint book runner for the US$20.5 billion initial public offering and effective privatization of publicly controlled AIG’s AIA Group unit, one of the largest and oldest life insurers in Asia.

Clients

Goldman Sachs Takes First Step to Becoming a Global Firm with London Office

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

Globalization , Culture

A Second Generation of Goldmans Enters the Family Business

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

Leadership

Goldman Sachs and IFC Introduce Landmark Credit Facility for Women Entrepreneurs

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.

Service , Clients

Firm Helps a U.S. Thrift Sell Yen-Based Notes in Europe

In 1987, Goldman Sachs co-manages the first-ever collateralized Euroyen notes totaling JPY15 billion for California-based Great American First Savings Bank.

Clients , Innovation

Goldman Sachs Leads Historic Conrail IPO, the Largest Public Offering to Date

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.

Clients

Goldman Sachs Plans First Headquarters for Site of Marcus Goldman’s Original Office

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.

Culture

Goldman Sachs Launches Community TeamWorks, Its Signature Volunteer Program

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.

Service , Culture

Jon Corzine Named Goldman Sachs’ Senior Partner

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

Leadership

Landmark Investment in Goldman Sachs by Sumitomo Bank

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

Globalization , Clients

Firm Announces Formation of Merchant Banking Division

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

Clients

A New Partner Joins the Family Business

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

Leadership

Entrepreneurialism and Grit Inspire Marcus Goldman to Launch his Business

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.

Leadership

John Whitehead Memo Revolutionizes Investment Banking, Establishing Investment Banking Services

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).

Clients , Innovation

Firm Helps a State-Owned Company in India Tap Global Markets

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.

Globalization , Clients

With GS Research Report, "BRICs" Are Born

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.

Clients , Innovation

Landmark Partnership Preserves Pristine Wilderness in Tierra del Fuego

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.

Service , Culture

Embracing Past and Future, Goldman Sachs Breaks Ground on its Global Headquarters in Manhattan

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.

Culture

New Program Harnesses the Power of Education for Women Entrepreneurs Around the World

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.

Service , Culture

Analyst Impact Fund Taps Junior Talent's Competitive Spirit to Generate Grants for Nonprofits

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.

Service , Culture

Marcus by Goldman Sachs Leverages Technology and Legacy of Financial Expertise in Dynamic Consumer Finance Platform

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

Clients , Innovation

With Partnership Committee, the Firm’s Governance Evolves to Reflect New Realities

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.