Globalization

In 2011, the largest earthquake in recorded history to hit the country strikes off the coast of Japan, unleashing a tsunami that cripples a nuclear power plant, displaces nearly half a million people, and causes widespread devastation.

On February 4, 2000, Britain’s Vodafone AirTouch PLC acquires Mannesmann AG in a historic deal that will reshape the mobile telecom marketplace.

The firm opens an office in Zurich in 1974, its second in Europe.

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.

On September 11, 2001, coordinated terrorist attacks against the United States using hijacked planes hit New York’s World Trade Center towers, the Pentagon building and a remote field in Pennsylvania. While global markets are disrupted and temporarily shut down, the attacks trigger worldwide outpouring of support, an international quest for justice and a pledge to rebuild Lower Manhattan.

Expanding its global footprint, the firm opens an office in Tokyo, Japan in 1974, its first in Asia.

In 2019, Goldman Sachs prepares to take occupancy of Plumtree Court. The firm’s new European headquarters brings three London offices together under one roof, with a focus on creating a space that fosters productivity and connectivity and achieving a BREEAM rating of Excellent for its sustainability.

In November 1972, the Dow Jones Industrial Average climbs to 1,000 units for the first time in its history, a milestone 76 years in the making.

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.

In early 1994, Goldman Sachs opens its first office in China. Officially opened in February, the firm’s Beijing office marks the beginning of a permanent presence in mainland China. In November, the firm opens a second office, in Shanghai.

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

A century after its founding, Goldman Sachs enjoys a strong presence in block trading, corporate financing, security arbitrage, trading and underwriting of federal agencies securities, and municipal finance.

As part of financial reforms instituted during the Great Depression in the United States, the Glass-Steagall Banking Act of 1933 mandates the separation of commercial and investment banking, and the Securities Acts of 1933 and 1934 improve disclosure practices in the offering of securities to investors.

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.

The “roaring twenties” end with the stock market crash of October 1929.

In 1982, Goldman Sachs establishes a board of international advisors with wide ranging experience in government, diplomacy and multinational business.

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 opens an office in Hong Kong in 1983, recognizing the role of the port territory as a vital financial bridge for the entire Asian region.

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.

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.

Goldman Sachs partners with Kleinwort, Sons & Co. of London in 1897, beginning a joint undertaking in international finance.

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.

Goldman Sachs opens offices in Boston and Chicago in 1900, thus becoming a national company.

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

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

Closed shortly after Japan surrendered in 1945, the Tokyo Stock Exchange resumes operations in May 1949, contributing to the stabilization and growth of postwar Japan.

In 1986, Goldman Sachs joins the International Stock Exchange in London and becomes a primary dealer in UK government securities, cementing the firm's position as a leading participant in the evolving global capital 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.

In the summer of 1997, capital flight forces several East Asian countries to let their currencies float: the ensuing Asian Financial Crisis threatens the international financial system.