Goldman Sachs
The Goldman Sachs Group, Inc. (/sæks/ SAKS) is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered in Lower Manhattan in New York City, with regional headquarters in many international financial centers.[1] Goldman Sachs is the second largest investment bank in the world by revenue[2] and is ranked 55th on the Fortune 500 list of the largest United States corporations by total revenue.[3] In Forbes Global 2000 2023, Goldman Sachs ranked 34th.[4] It is considered a systemically important financial institution by the Financial Stability Board.
Company type
1869
Worldwide
- David M. Solomon (Chairman and CEO)
- John E. Waldron (President and COO)
- Kathryn M. Ruemmler (Chief Legal Officer)
- Denis Coleman (Chief Financial Officer)
US$46.25 billion (2023)
US$10.74 billion (2023)
US$8.52 billion (2023)
US$2.81 trillion (2023)
US$1.64 trillion (2023)
US$117 billion (2023)
45,300 (2023)
Tier 1 15.0% (2022; Basel III Advanced)
- Standard & Poor's: BBB+
- Moody's: A2
- Fitch Ratings: A
Goldman Sachs offers services in investment banking (advisory for mergers and acquisitions and restructuring), securities underwriting, prime brokerage, asset management as well as wealth management and investment management via Goldman Sachs Personal Financial Management. It is a market maker for many types of financial products and provides clearing and custodian bank services. It operates private-equity funds and hedge funds. It structures complex and tailor-made financial products. It also owns Goldman Sachs Bank USA, a direct bank. It trades both on behalf of its clients (flow trading) and for its own account (proprietary trading). The company invests in and arranges financing for startups, and in many cases gets additional business as bookrunner when the companies launch initial public offerings.[5] It is one of over 100 strategic partners of the World Economic Forum.[6]
The firm maintains offices in all major financial centers around the world, whilst its most important locations are New York and London. The firm is led by a board of directors, reporting to Chief Executive David Solomon. Firm leadership also consists of a separate management committee, responsible for key strategy, policy and management matters across all of Goldman Sachs’ businesses.
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Political contributions[edit]
According to OpenSecrets, Goldman Sachs and its employees collectively gave $3.3 million in the 2022 United States elections to various candidates, leadership PACs, political parties, 527 groups, and outside spending entities benefiting both major American political parties. The largest beneficiary in 2022 was David McCormick, former CEO of Bridgewater Associates, who received $336,000 in contributions.[305]
Management[edit]
Officers and directors[edit]
Non-employee members of the board of directors of the company are M. Michele Burns, Mark Flaherty, Kimberley Harris, Kevin Johnson, Ellen J. Kullman, Lakshmi Mittal, Adebayo Ogunlesi, Peter Oppenheimer, Jan E. Tighe, Jessica Uhl, and David Viniar.[306] Non-employee directors receive annual compensation of $100,000 in cash and $350,000 in restricted stock, with an extra $25,000 for committee chairpersons.[306]
The 10 largest shareholder of Goldman Sachs as of December 2023 were:[307]
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