StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Goldman Sachs Group - Essay Example

Cite this document
Summary
Goldman Sachs Group With the recent occurrences in regards to the 2008 economic recession, companies such as Goldman Sachs have found themselves at the center of considerable controversy. While Goldman Sachs has received attention as of late, few people are aware of the corporation’s significant history…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER93.8% of users find it useful
Goldman Sachs Group
Read Text Preview

Extract of sample "Goldman Sachs Group"

Download file to see previous pages

Goldman Sachs emerged in 1869 when founder Marcus Goldman founded the company; his son-in-law Samuel Sachs would join the organization in 1885, giving the company its modern moniker. In this early incarnation, the company primarily functioned as a commercial paper manufacturer for entrepreneurs. They were highly successful and joined the New York Stock Exchange (NYSE) in 1896 (Lindskoog). In the early 20th century the company moved into the financial market, a path that would come to characterize the organization.

Their first substantial contributions to this market were in terms of managing initial public offerings (IPOs). For instance, they managed the Sears, Roebuck and Company IPO in 1906 (Lindskoog). At the time this was the largest market IPO that had occurred on the NYSE. The next great shift in the company occurred in 1930 when Stanley Weinberg joined the organization. Weinberg’s major contribution was shifting the company emphasis from trading and more into the field of investment banking. While Goldman had suffered a hit in reputation during the 1929 stock market crash, Weinberg had worked to restore much of the company’s brand.

One considers a similar parallel with the 2008 economic recession (Lindskoog). . In 1990 future Treasury Secretary under the Clinton administration Robert Rubin joined the firm. In 1994 he would leave and Jon Corzine would assume leadership; Corzine was proceeded by Henry Paulson, another former Treasury Secretary (Lindskoog). In 1999 the company issued its own IPO, releasing 48% of its stock publicly. Still, the most notable elements of the company occurred in the 2007-2008 subprime mortgage crisis.

During this period the company profited on the collapse in subprime mortgages by short-selling subprime mortgage backed securities; this garnered significant questions of ethics (McGee). Still, the company experienced significant financial hardship during the recession and received over $10 billion in government bailout (McGee). The company has a large variety of financial products and services. In its contemporary incarnation the company has three main divisions: investment banking, asset management and securities services, and trading and principal investments (Cohan).

The investment banking division involves financial advising; such practices include mergers and acquisitions, restructuring, and avoiding hostile. They also participate in underwriting public offering and private placements of equity. Another division is asset management and securities service. The asset management division offers investment advice and financial planning (Cohan). The securities service includes clearing, financing, custody, and securities lending. The third division is the trading and principal investment division.

This is understood as the most developed of the organization’s divisions and operates as the organization’s greatest source of profit (Cohan). This division is divided into the further subsections of fixed income, currency,

...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Goldman Sachs Group Essay Example | Topics and Well Written Essays - 750 words”, n.d.)
Retrieved de https://studentshare.org/marketing/1438312-goldman-sachs-group
(Goldman Sachs Group Essay Example | Topics and Well Written Essays - 750 Words)
https://studentshare.org/marketing/1438312-goldman-sachs-group.
“Goldman Sachs Group Essay Example | Topics and Well Written Essays - 750 Words”, n.d. https://studentshare.org/marketing/1438312-goldman-sachs-group.
  • Cited: 0 times

CHECK THESE SAMPLES OF Goldman Sachs Group

Bank of America Acquisition of Merrill Lynch

Some of the main competitors of Bank of America in its acquisition of Merrill Lynch include Wells Fargo and Company, The Goldman Sachs Group Incorporated and JP Morgan Chase and Corporation, and Citigroup.... The main competitors in the market including Wells Fargo and Company, The Goldman Sachs Group Incorporated and JP Morgan Chase and Corporation, and Citigroup are well established both within and outside of the United States....
2 Pages (500 words) Essay

Risk management

Additionally, Goldman Sachs has also participated in multimillion dollar settlements which are associated with inside fraud and trade (Goldman Sachs Group INC.... ??Goldman Sachs Group Inc' (2012).... Dane Holmes, the investor relations head at goldman sachs says that the general people, whose percentage is far more than intellectual investors, do not trust the big banks operating in the country due to the transparency factor which has finally led these banks to a stage where they are facing extensive issues related to capital and investments (FRANK PARTNOY, et al....
2 Pages (500 words) Essay

A letter to the editor in the Wall Street Journal

It is absolutely wrong to infringe on the privacy of the customers of another business as is the case with Bloomberg personnel having used data from its clients among them Goldman Sachs Group Inc.... MORGAN SEEKS BLOOMBERG DATA' OF MAY 15TH 2013 It is absolutely wrong to infringe on the privacy of the customers of another business as is the case with Bloomberg personnel having used data from its clients among them Goldman Sachs Group Inc.... Another thing that should be done is that the affected firms, among them Goldman Sachs Group Inc....
1 Pages (250 words) Assignment

Goldman Sachs's Financial Data Analysis

Goldman Sachs (Goldman Sachs Group Inc.... Subsequently, the company has had interests in investment and securities management through its ability to provide… wide range of financial services substantially to an assorted customer base that includes administrations, commercial institutions, high net-worth personalities, and corporations. As a US based company, goldman sachs has its operations spread out in various parts of the world, The company was founded in the year 1869 and has its headquarter in New York, but maintains subsidiary offices in the major financial centers globally....
3 Pages (750 words) Assignment

Financial Management of Goldman Sachs Group

It also works for the clients to transact, support, manage, innovate and invest (The Goldman Sachs Group, Inc.... (GS) was founded in 1869.... It's headquarter is in New York.... It is renowned as a leading global investment banking, securities and investment management firm.... It provides financial services all over the world the clients are substantial and diversified… The company assigns people, capital and ideas to help the clients, the shareholders and the communities they serve....
5 Pages (1250 words) Assignment

Goldman Sachs International Business Environment

The mergers and equity were decreased as compared to the period of first quarter of 2013 (The Goldman Sachs Group, Inc.... The company has its major operation in the region of Europe, Middle East and Africa.... The present report illustrates about the business environment, operations and recent performance… It provides a brief overview about the business environment focusing on the trends prevailing within the financial service industry....
10 Pages (2500 words) Essay

Citigroup and J. P. Morgan Chase and Stocks of Enron and WorldCom

According to its business description, goldman sachs is “is a bank holding company headquartered in New York, New York.... From the paper "Citigroup and J.... P.... Morgan Chase and Stocks of Enron and WorldCom" it is clear that the government should regulate some mergers if they are from the same industry, or offering competing products in the market, even at least in part of their portfolio....
8 Pages (2000 words) Assignment

Goldman Sachs - Management Analysis

The rationale behind choosing goldman sachs for the purpose of the study is that during the period of Lloyd Blankfein, CEO and Chairman of the company, it was accused of fraud by the SEC (Securities and Exchange Commission) in the year 2010.... The main business of the goldman sachs has been to invest the money belonging to the large organisations as well as the wealthy individuals.... His five years tenure in goldman sachs can be classified into three different groups....
7 Pages (1750 words) Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us