An Overview of Goldman Sachs
Goldman Sachs is a US-based investment banking firm that was first founded in the year 1869. The Goldman Sachs headquarters is currently located in the Lower Manhattan sector of New York City. This prominent investment firm finished the fourth quarter of 2012 with around 32,600 employees. As of December 2011, Goldman Sachs had locations in more than 30 different countries around the world. Goldman Sachs’ recent activities include the acquisition of three assets in Tokyo in July 2012 and the Dwight Asset Management firm in May 2012.
Some of Goldman Sachs core functions include advising firms on managing acquisitions and risks, helping local and national municipalities finance growth initiatives, managing various transactions for clients and contributing support to different types of financial markets. Some of Goldman Sachs’ other core functions include managing financial assets for institutions and individuals, investing capital to spur organic growth and using analytics or innovation to find new sources for revenue growth and developing new products or strategies.
Goldman Sachs trades publicly on the New York Stock Exchange, and is a part of the S&P 500 as well. Recently, the Goldman Sachs stock typically trades for over $140 per share with an average daily volume of over 886,600 transactions. Goldman Sachs totaled $11.12 billion of revenue in the fourth quarter of 2012, improving from $8.01 billion in the fourth quarter of 2011. Fourth quarter 2012 Goldman Sachs’ EPS was valued at $5.60, improving significantly from an EPS of $1.83 at the end of 2011. Goldman Sachs categorizes its activities in four different segments for financial reporting: Investment Management, Investing & Lending, Institutional Client Services and Investment Banking.
The Goldman Sachs Investment Banking division services businesses and governments around the world. Through this division, Goldman Sachs provides an array of financial advisory services concerning M&A, risk management, spin-offs, restructuring and defensive activities amongst others for enterprises and municipalities of all sizes. Goldman Sachs provides an expansive portfolio of underwriting services to a variety of clients as well. Goldman Sachs Institutional Client Services focuses on equities, execution on commodities and currencies and fixed income as well. This division focuses on clients that contact Goldman Sachs for managing risks, raising funds or financial product transactions as well.
Most of Goldman Sachs clientele consist of professionals that routinely participate in various financial markets. By the end of December 2011, Goldman Sachs was servicing over 3,700 organizations in more than 40 different national economies around the world. The Investing & Lending division focuses on long-term assets like real estate, loans and debt securities and private and public securities as well. The Investment Management division provides wealth and advisory services to retail investors, high-net-worth investors and enterprises as well.
The Chairman of the Board and CEO of Goldman Sachs is Lloyd C. Blankfein. Blankfein has been the CEO and Chairman of Goldman Sachs since 2006. He currently makes around $16.16 million for the fiscal year. Blankfein served as COO and President from 2004 to 2006. He served as the Goldman Sachs Vice Chairman heading the Fixed Income, Currency and Commodities Division from April 2002 through January 2004. The current President, COO and Director for Goldman Sachs is Gary D. Cohn.
This article was composed by Kenneth Bronson, a freelancer who focuses his work on financial, taxation, real estate, business and commercial topics; to learn more about taxation be sure to view the History of RGB.