Innovation

Creativity and innovation have become hallmarks of Goldman Sachs – from creating the first price-to-earnings ratio, to initiating the investment banking business, to the technological reinvention of the modern IPO and beyond.

+ Themes Innovation

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

Launch With GS Commits $500 Million to Narrow Investing Gaps

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

Clients , Innovation

GS Accelerate Taps Firm’s Entrepreneurial Spirit to Drive Innovation From Within

Hundreds of ideas are submitted within the firm in the first year of the program designed to spark new initiatives worthy of investment and further development.

Clients , Innovation

Goldman Sachs Partners with Apple on a Game-Changing Credit Card

Launched in 2019, Apple Card delivers greater control, transparency and privacy to consumers.

Clients , Innovation

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

ESG and Impact Investing Leverage Capital for Sustainability

Sustainability is a key driver of how Goldman Sachs engages with clients and the industry more broadly. By 2019, the firm’s commitment to sustainability is closely integrated across the firm’s activities – whether through raising capital to support sustainable business models, offering powerful environmental, social and governance (ESG) investment solutions, or effectively managing the environmental and social risks of its own operations.

Clients , Innovation

Urban Investment Group Is Formed to Lead the Firm's Impact Investing Efforts

Innovative financing solutions developed by the Urban Investment Group since 2001 help fuel growth in underserved communities.

Clients , Innovation

Goldman Sachs Pairs Debt Underwriting for Japanese Telco with First Dollar/Yen Swap

The firm lead-manages a US$150 million Yankee bond issuance on behalf of Japan’s Nippon Telephone and Telegraph in 1984. The issuance is coupled with the first-ever yen/US dollar swap deal, representing an innovative approach to blending two corporate finance disciplines to best serve a client's interests.

Clients , Innovation

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

IFFIm Bonds: Financial Innovation Funds Immunization in More than 60 Countries

As lead advisors to the International Finance Facility for Immunisation (IFFIm), Goldman Sachs helps to launch in 2006 a US$1 billion bond to protect children against disease by improving health systems and increasing access to immunization.

Service , Innovation

GS SUSTAIN Targets Sustainable Corporate Performance

In 2007, Goldman Sachs launches GS SUSTAIN, a global, long-term investment research strategy designed to generate sustainable alpha by integrating analysis of financial strength, strategic positioning, and environmental, social and governance performance.

Clients , Innovation

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

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

Goldman Sachs Helps a French Utility Tap the US Commercial Paper Market

Just over a century after Goldman Sachs began dealing in commercial paper, the firm leads a commercial paper issuance for state-owned electric utility Électricité de France in 1974, the first ever in the United States on behalf of a foreign government entity.

Clients , Innovation

With SecDB, a Groundbreaking Risk Management Platform is Born

Securities Database, known as SecDB, is developed in 1993 and becomes the backbone of Goldman Sachs’ risk analytics platform for securities.

Clients , Innovation

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

Celebrating Most Influential Entrepreneurs at Inaugural Builders + Innovators Summit

2012 marks Goldman Sachs’ first annual Builders + Innovators Summit, a gathering of a select group of up-and-coming US entrepreneurs and seasoned business leaders designed to foster dialogue, idea sharing, and economic progress.

Clients , Innovation

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

Firm's First IPO Uses New Earnings-Based Approach to Valuation

Henry Goldman leads the firm’s first IPO in 1906, utilizing the innovative strategy of earnings, rather than solely assets, to attract long-term investment in United Cigar Manufacturers.

Clients , Innovation

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

Revolutionary Black-Scholes Option Pricing Model is Published by Fischer Black, Later a Partner at Goldman Sachs

Published in 1973, the Black-Scholes Option Pricing model brings a new quantitative approach to pricing options, helping fuel the growth of derivative investing.

Clients , Innovation

“Womenomics” Reveals The Power of the Purse in Japan

The Japanese portfolio team within the Global Investment Research Division publishes “Womenomics: Buy the Female Economy” in 1999, launching a multiyear series of reports that cement “Womenomics” as part of the Japanese vernacular and a pillar of the country’s efforts to revive economic growth.

Clients , Innovation

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

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