Goldman Sachs
Germany → USA
Finance, Banking & Insurance
Summary
Marcus Goldman, a Bavarian immigrant who arrived in the United States in 1848, founded the firm that would become Goldman Sachs as a one-room commercial paper business in Lower Manhattan in 1869. His son-in-law Samuel Sachs joined the firm in 1882, giving it its enduring name. Over the following 150 years it grew into one of the most influential investment banks in the world.
European Contribution
Commercial banking and merchant finance traditions from Central Europe.
American Impact
Development of modern investment banking and capital markets.
Timeline Highlights
- 1848 Goldman emigrates from Bavaria
- 1869 Firm founded in New York
- 1882 Samuel Sachs joins; firm renamed Goldman Sachs
- 20th–21st centuries Global financial leadership