Founding of Goldman Sachs
Goldman Sachs was founded in New York City by Marcus Goldman, a German immigrant. The firm started as a commercial paper business, facilitating transactions between merchants and their suppliers.
1869
1882
Samuel Sachs Joins the Firm
Samuel Sachs, Marcus Goldman's son-in-law, joined the business, leading to the firm's name change to M. Goldman and Sachs.
1896
Goldman Sachs Joins the New York Stock Exchange
Goldman Sachs became a member of the New York Stock Exchange, marking a significant milestone in its development as a major financial institution.
1906
First Major IPO
Goldman Sachs managed its first major IPO, underwriting securities for United Cigar Manufacturers, which marked the firm's entry into the field of initial public offerings.
1929
The Stock Market Crash
Goldman Sachs was significantly affected by the stock market crash of 1929, which led to the Great Depression. The firm faced substantial financial challenges during this period.
1956
Ford Motor Company IPO
Goldman Sachs co-managed the IPO of Ford Motor Company, one of the largest public offerings at the time, further solidifying its reputation in the investment banking sector.
1981
Formation of Goldman Sachs Asset Management
Goldman Sachs established its asset management division, Goldman Sachs Asset Management (GSAM), expanding its services to include investment management.
1994
Goldman Sachs Becomes a Bank Holding Company
In response to changes in the financial industry, Goldman Sachs became a bank holding company, which allowed it to expand its range of financial services.
1999
Goldman Sachs Goes Public
Goldman Sachs transitioned from a private partnership to a publicly traded company, conducting its initial public offering (IPO) and listing on the New York Stock Exchange.
2008
Financial Crisis and Bank Holding Company Status
During the global financial crisis, Goldman Sachs received a capital injection from Warren Buffett’s Berkshire Hathaway and converted into a bank holding company to gain access to Federal Reserve funding.
2013
Acquisition of Metro International Trade Services
Goldman Sachs acquired Metro International Trade Services, a metals warehousing business, expanding its commodities trading and storage capabilities.
2015
Launch of Marcus by Goldman Sachs
Goldman Sachs launched Marcus, an online consumer lending platform, marking its entry into the retail banking sector.
2016
Acquisition of GE Capital Bank Deposits
Goldman Sachs acquired the online deposit platform of GE Capital Bank, significantly increasing its consumer deposits and expanding its retail banking services.
2020
Goldman Sachs 10,000 Small Businesses Program
Goldman Sachs expanded its 10,000 Small Businesses program to help small businesses navigate the challenges posed by the COVID-19 pandemic, providing education and support to entrepreneurs.
2021
Sustainable Finance Commitment
Goldman Sachs announced a commitment to deploy $750 billion in sustainable finance by 2030, focusing on climate transition and inclusive growth strategies.
2023
Acquisition of GreenSky
Goldman Sachs completed the acquisition of GreenSky, a leading fintech platform for home improvement consumer loans, enhancing its capabilities in consumer finance.
