Company Overview Visit goldmansachs.com website
Goldman Sachs Group is one of the most powerful and influential companies in the world, operating in investment banking and investment management. It has its headquarters at 85 Broad Street, New York City.
Goldman Sachs was founded by Marcus Goldman in 1869. His son-in-law Samuel Sachs joined him in 1882 and they ran the business together for over 50 years. In 1906 Goldman took on his new partner, a former neighbor from Cleveland named John Loeb . A Jewish immigrant from Germany, Loeb also had a hardscrabble background - he dropped out of high school to help support his family during a financial panic - but made it through college and went to work as a runner on Wall Street. He too became a partner of Goldman in 1912.
The company's name was changed to Goldman Sachs & Co. in 1916 and it has remained the same ever since, despite a number of changes in its leadership over the years.
Sam Sachs retired from the firm at age 65 in 1925 and died six years later after a failed operation on his pancreas. His son Sidney resumed his father's role and led Goldman during most of World War II , keeping it afloat throughout the Depression-era by growing its securities business steadily through personal connections with wealthy individuals. By 1936, Sidney had become partners with three men who would shape Goldman well into the next century - Gus Levy, Robert Rubin, and Steve Friedman.