Goldman Sachs Day

Unlike their rivals, Goldman’s equity research analysts never, ever go on TV to discuss their opinions. Goldman Sachs was founded in New York City in 1869 by Marcus Goldman. In 1882, Goldman's son-in-law Samuel Sachs joined the firm. In 1885, Goldman took his son Henry and his son-in-law Ludwig Dreyfuss into the business and the firm adopted its present name, Goldman Sachs & Co. The company pioneered the use of commercial paper for entrepreneurs and joined the New York Stock Exchange (NYSE) in 1896. By 1898, the firm's capital stood at $1.6 million.

Today the Goldman Sachs Group, Inc. is an American multinational investment bank and financial services company headquartered in New York City. It uses 1 million computing hours per day for risk management calculations. Number of employees: 43,900 (2021). The average employee tenure in 2011 was 5.5 years, up from 5.0 years in 2008 and 4.5 years in 2001. The average tenure for executive officers is 22 years. Sidney Weinberg, who started off as a janitor’s assistant, went on to become the CEO and led the firm for 39 years.

Known widely as an investment bank it only generates 14.4% of its revenue from investment banking. The bulk, 53%, is from sales and trading.