The American bank Goldman Sachs is one of the largest commercial banks in the world. It was founded back in 1869 by a talented financier named Marcus Goldman.
It all started as a small brokerage house in Lower Manhattan where Marcus traded IOUs for jewelry store clients. In 1882, when the turnover of his small company exceeded $30 million, the banker invited his son-in-law Samuel Sachs to cooperate. The young man readily accepted his father-in-law's offer, sold the clothing store and devoted all his energies to the company, which at that time was already called M. Goldman & Sachs. It was Samuel who led the company after the death of its founder in 1904 and remained at its helm until the onset of the Great Depression.
Almost from the very beginning of the bank's existence, the main source of its profit was exchange activity. In addition to her, the institution was also famous for its advisory services in the field of mergers and acquisitions.
It is noteworthy that it was Goldman Sachs that became the first company that invited graduates of the best business schools in the administration industry to work. In addition, a considerable income of the company was brought by participation in the public sale of shares of such companies as Microsoft, Yahoo, Ford, GE. To date, Goldman Sachs owns 30% shares of the company Burger King.
And although to this day the bank periodically receives accusations of fraud and poor treatment of its customers, this does not prevent it from remaining one of the largest financial conglomerates of our time.