Goldman Sacs Bank

By: EconomyWatch Content   Date: 29 October 2009

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Goldman Sacs is one of the largest financial services providers in the world, with its headquarters in New York. It is a high-profile institution that offers investment banking, securities and asset management services to qualified clients. Goldman Sacs Bank offers services to corporations, governments and individuals with large assets.

Goldman Sacs Bank: Company Information

Goldman Sacs Bank was founded in 1869 by Marcus Goldman. With its high quality commercial paper to corporations, company earned a huge name in the financial corridors. It was listed on the New York Stock Exchange in 1896. During the early decades of the twentieth century, the firm shifted focus towards investment banking. During its prime in 1950s and 60s, the firm brought in innovative ideas in the trading and investment banking sectors. In the following years, the company expanded its business both within the US and in other parts of the world. It also began offering investment advisory services. In 1986, Goldman Sachs Asset Management came into existence. In 1999, Goldman Sacs came out with its IPO (initial public offering).

Following the Wall Street collapsed in 2008, Goldman Sacs’ financial status crashed. In order to benefit from the US government bail-out formula, the firm converted from an investment banking company to bank holding. According to the 2008 data, Goldman Sacs Bank has total assets of $884.547 billion.

Goldman Sacs Bank: Products and Services

Products and services offered by Goldman Sacs Bank are classified under following sections:

  • Advisory: The bank offers advisory services on asset allocation, environmental market, mergers and acquisitions.

  • Financing: Loans, debt financing, equity capital market and credit lending services are offered by Goldman Sacs Bank to qualified customers.

  • Investing: The company is revered as one of the best investing firms in the US. Investing services include asset management, bank deposits, mutual funds, private equity and security derivatives.

  • Securities: The bank has a specialized division dedicated to securities. It offers clearing, execution, fund administration, pension, prime brokerage and securities lending services.

  • Research: Goldman Sacs Bank has an Global Investment Research division that conducts paid studies into financial the environment of a nation, region or an organization. These highly focused researches form the basis of high-quality advisory services.

Goldman Sacs was ranked ninth among Fortune's 100 Best Companies to Work For in the year 2009.


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