Goldman Sachs
About Goldman Sachs
Founded by Marcus Goldman, a German Jewish immigrant, in 1869 as a commercial paper dealer in New York. His son in law Samuel Sachs joined in 1882. Goldman Sachs pioneered the use of commercial paper for corporate financing. The firm went public in 1999 after 130 years as a partnership. Goldman was nicknamed the Vampire Squid by Rolling Stone magazine for its tentacles in government and finance. Former Goldman executives include Treasury Secretaries Henry Paulson and Steven Mnuchin, World Bank President Robert Zoellick, and European Central Bank President Mario Draghi. Goldman weathered the 2008 crisis better than competitors, converting to a bank holding company to access Fed lending.
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