Goldman Sachs

Explore the rich history of Goldman Sachs, from its inception in 1869 to its evolution into a leading global investment banking, securities, and investment management firm. Discover key milestones, transformative events, and major accomplishments that have shaped Goldman Sachs over the years.

Founded: January 01, 1869

1 januari 1869

4 mei 1999

1 juli 2006

21 september 2008

16 april 2010

15 juli 2010

1 april 2013

1 januari 2018

24 juli 2020

21 augustus 2022

01januari
1869
01 January 1869

Founding of Goldman Sachs

Goldman Sachs was founded in 1869 by Marcus Goldman in New York City. Originally a commercial paper business, it quickly gained a reputation for its conservative credit guidelines and innovative financial services. The firm provided merchants with an alternative to loans from New York banks, securing it a solid client base.

04mei
1999
04 May 1999

Goldman Sachs IPO

Goldman Sachs went public on May 4, 1999. It was one of the largest IPOs at the time, and the firm raised $3.66 billion through the sale of 12.6 percent of its shares. The decision to go public was made under the leadership of then-CEO Henry Paulson and marked a significant shift in the firm's structure and business strategy.

01juli
2006
01 July 2006

Goldman Sachs and the Housing Bubble

Goldman Sachs played a crucial role in the lead up to the 2008 financial crisis. Throughout the mid-2000s, the firm heavily invested in mortgage-backed securities and complex derivative instruments. They profited from the housing market run-up while also shorting the housing market to hedge against potential losses, leading to immense controversy.

21september
2008
21 September 2008

Goldman Sachs Becomes a Bank Holding Company

On September 21, 2008, Goldman Sachs was approved to become a bank holding company, allowing it to access emergency funds and more easily raise capital. This move followed the collapse of Lehman Brothers and was a pivotal moment in the financial crisis. It marked a significant transformation of the firm’s business model and regulatory environment.

16april
2010
16 April 2010

SEC Charges Goldman Sachs with Fraud

The SEC charged Goldman Sachs with fraud on April 16, 2010, over its marketing of a subprime mortgage product known as Abacus 2007-AC1. The charges alleged that Goldman misled investors by not disclosing that a hedge fund helped put together, and stood to benefit from, investments that it was betting would fail. The case highlighted ethical concerns in financial services.

15juli
2010
15 July 2010

Goldman Sachs Settlement with the SEC

Goldman Sachs settled with the SEC on July 15, 2010, agreeing to pay $550 million to settle charges that it misled investors in a subprime mortgage product. The settlement was one of the largest ever for the SEC at the time and required Goldman to reform its business practices and comply with heightened industry standards.

01april
2013
01 April 2013

Goldman Sachs Initiates 10,000 Women Program

In April 2013, Goldman Sachs launched the 10,000 Women program, aimed at empowering female entrepreneurs globally by providing them with business education and access to capital. This initiative seeks to provide women with a comprehensive curriculum focusing on practical business skills and networking opportunities, improving their businesses' growth potential.

01januari
2018
01 January 2018

Goldman Sachs Enters Consumer Banking

In early 2018, Goldman Sachs entered the consumer banking market with its online platform, Marcus. Named after founder Marcus Goldman, the platform offers simple savings account options and personal loans. This move marks Goldman's expansion strategy, targeting the retail finance sector, and becoming a major player in consumer banking.

24juli
2020
24 July 2020

Goldman Sachs Agrees to Record Malaysia Settlement

Goldman Sachs agreed to a $3.9 billion settlement with the Government of Malaysia on July 24, 2020, over its role in the 1MDB scandal. The agreement includes a payment of $2.5 billion in cash and a guarantee of $1.4 billion in assets. This settlement was part of efforts to resolve criminal charges linked to the multibillion-dollar fraudulent scheme.

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21augustus
2022
21 August 2022

Goldman Sachs Acquires NextCapital Group

On August 21, 2022, Goldman Sachs announced the acquisition of NextCapital Group, a fintech firm specializing in digital retirement advice. This acquisition enhances Goldman’s capabilities in developing innovative retirement solutions and expands its asset management business. The firm is focusing on integrating technology with advisory services for comprehensive wealth management.

Frequently asked questions about Goldman Sachs

Discover commonly asked questions regarding Goldman Sachs. If there are any questions we may have overlooked, please let us know.

When was Goldman Sachs founded?

When did Goldman Sachs go public?

What was a significant event for Goldman Sachs during the financial crisis of 2008?

When did Goldman Sachs become a bank holding company?