Globalization

The story of Goldman Sachs is a tale of global growth, entering new markets and advancing economic opportunities for clients and communities around the world.

+ Themes Globalization

Goldman Sachs Expands its Footprint in Emerging Markets

The firm opens offices in several emerging markets in the 1990s, mirroring the expansion and integration of global financial markets.

Globalization , Culture

Historic Earthquake and Tsunami Devastate Japan’s Pacific Coast

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.

Globalization , Service

Vodafone Acquires Mannesmann in the Largest Acquisition in History

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

Globalization , Clients

Goldman Sachs’ Hong Kong Relationships Pave the Way for Largest Asia Media Merger

In 1993, Goldman Sachs serves as exclusive advisor to Hutchison Whampoa Limited and the Li family in the largest merger to date in the Asian media industry: Hong Kong-based Star TV and Rupert Murdoch’s News Corporation Limited.

Globalization , Clients

Second European Office Opens in Zurich

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

Globalization , Culture

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

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

Firm Helps Build Landmark European Aerospace Consortium

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

Globalization , Clients

Goldman Sachs Opens Frankfurt Office

Goldman Sachs opens a Frankfurt office in 1990, strengthening its commitment to Germany and Europe.

Globalization , Culture

September 11, 2001 Terrorist Attacks Stun the World and Jolt Global Financial Markets

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.

Globalization , Service

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

Goldman Sachs Establishes Asia Presence with Tokyo Office

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

Globalization , Culture

“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

Plumtree Court Combines Design, Functionality and Sustainability in New European Headquarters

In 2019, Goldman Sachs prepares to take occupancy of Plumtree Court. The firm’s new European headquarters will bring the three existing 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.

Globalization , Culture

The Dow Jones Industrial Average Reaches 1,000 Units for the First Time

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.

Globalization

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.

Clients , Globalization

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

Expanding its Commitment to China, Goldman Sachs Opens Offices in Beijing and Shanghai

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.

Globalization , Culture

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

1969: Stonewall Riots, Man On The Moon, Woodstock, And The Rise of Block Trading

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.

Culture , Globalization

The Glass-Steagall Act Separates US Commercial and Investment Banking Activities

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.

Globalization , 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

The New York Stock Market Crash of 1929 Preludes the Great Depression

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

Globalization

International Advisory Board Formed to Provide Global Insight

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

Globalization , Clients

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

Looking to Expand in Asia, Goldman Sachs Establishes Hong Kong Presence

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.

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

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

1894: Coca-Cola, the International Olympic Committee, and the “Velocipede”

Goldman Sachs turns 25 during the US economic recession of the mid-1890s.

Globalization , Culture

Goldman Sachs Partners With Kleinwort, Sons & Co. of London

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

Globalization , Clients

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.

Clients , Globalization

Pursuing Opportunity, Goldman Sachs Establishes Boston and Chicago Offices

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

Culture , Globalization

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

The Shanghai Stock Exchange Reopens in 1990

Closed in 1950 after the Communist revolution, the Shanghai Stock Exchange restarts operations in December 1990, cementing the growth and development of capital markets in China.

Globalization

The Late 1990s Dot-Com Bubble Implodes in 2000

Investors avidly trade dot-com stocks from internet startups, until the bubble burst in 2000.

Globalization

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

The Tokyo Stock Exchange Reopens in 1949

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.

Globalization

Amid London's "Big Bang" Deregulation, Goldman Sachs Joins Newly Formed International Stock Exchange

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.

Clients , Globalization

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

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

Globalization , Clients

Speculative Attacks Force East Asian Countries to Let their Currencies Float, Resulting in the Asian Financial Crisis of 1997

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.

Globalization