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

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.

Culture , Globalization

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

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.

Clients , Globalization

Helping Retailer Ito-Yokado Tap into American Bond Market

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

Clients , Globalization

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

Goldman Sachs Joins Frankfurt Stock Exchange

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

Clients , 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.

Culture , Globalization

Global Financial Markets Crash on Black Monday

After US markets plunged on October 19, 1987, equity markets around the world declined, 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 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.

Clients , Globalization

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.

Culture , 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.

Clients , Globalization

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

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 continued to engulf much of the globe and world leaders convene to plan for post-war governance, economic reconstruction, and financial stability.

Culture , Globalization

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.

Culture , Globalization

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

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

Culture , Globalization

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.

Culture , Globalization

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.

Clients , Globalization

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.

Culture , Globalization

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

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

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.

Clients , 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

Helping 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.

Clients , Globalization

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