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Clients

Goldman Sachs was built through strong, enduring relationships and transformative business transactions. Learn about the clients, significant acquisitions and strategic pivot points from our early beginnings to today.

+ Themes Clients

Paradigm Shift as Goldman Sachs Decides to Go Public

After decades of impassioned debate, the partners of Goldman Sachs voted in 1998 to take the firm public the following year. The firm was among the last large financial institutions to do so.

Clients , Culture

Landmark Investment in Goldman Sachs by Sumitomo Bank

Goldman Sachs accepts a US$500 million investment and limited partnership interest by Sumitomo Bank in order to meet capital requirements.

Clients , Globalization

Investment in Industrial and Commercial Bank of China (ICBC)

In 2006, Goldman Sachs purchases a 7 percent stake in ICBC worth more than $2.5 billion—its largest-ever principal investment—reinforcing a deep strategic collaboration between the two banks.

Clients

Firm Announces Formation of Merchant Banking Division

The formation of the Merchant Banking Division reflects the firm’s expanding role in principal investing activities.

Clients

Firm's First IPO Uses New Earnings-Based Approach to Valuation

Henry Goldman leads the firm’s first IPO, utilizing the innovative strategy of earnings, rather than solely assets, to attract long-term investment in United Cigar Manufacturers.

Clients , Innovation

Fried. Krupp, Ltd., One of First Post-War Offerings from Germany

Goldman Sachs acts as lead manager for the US$10 million Fried. Krupp, Ltd. note offering, one of the first from postwar Germany.

Clients , Globalization

Power of Relationships: The Road to Ford Motor Company's IPO

Goldman Sachs leads the Ford Motor Company’s US$657 million IPO, the largest common stock offering to date in the United States. Sidney Weinberg, a long-time friend and informal advisor to the Ford family, becomes one of Ford Motor's first outside directors.

Clients

John Whitehead Memo Revolutionizes Investment Banking, Establishes Investment Banking Services

In one of the firm's most important industry innovations, John C. Whitehead submits a memo to Sidney J. Weinberg outlining the establishment of Wall Street's first marketing arm for investment banking, later known as Investment Banking Services.

Clients , Innovation

Revolutionary Black-Scholes Option Pricing Model is Published by Fischer Black, Later a Partner at Goldman Sachs

Published in 1973, the Black-Scholes Option Pricing model brought a new quantitative approach to pricing options, helping fuel the growth of derivative investing.

Clients , Innovation

Goldman Sachs Adds Strength in Commodities and Foreign Exchange With J. Aron Acquisition

Goldman Sachs acquires a client, J. Aron & Company, in a strategic move to extend the firm’s international presence in the commodity and foreign exchange markets.

Clients

Amid U.K.'s "Big Bang" Deregulation, Goldman Sachs Joins Newly Formed International Stock Exchange

In 1986, Goldman Sachs joins the International Stock Exchange in London and becomes a primary dealer in U.K. government securities, cementing the firm's position as a leading participant in the evolving global capital markets.

Clients , Globalization

Helping a State-Owned Company in India Tap Global Markets

Goldman Sachs is the lead manager of Indian Petrochemicals Corporation Limited (IPCL)’s US$85 million offering of global depositary receipts—the first international offering for an Indian government-owned company.

Clients , Globalization

“Womenomics”: The Power of the Purse in Japan

The Japanese portfolio team within the Global Investment Research Division publishes “Womenomics: Buy the Female Economy,” launching a multiyear series of reports that cement “Womenomics” as part of the Japanese vernacular and a pillar of the country’s efforts to revive economic growth.

Clients , Innovation

With GS Research Report, "BRICs" Are Born

Goldman Sachs’ Global Investment Research Division publishes the report, "Build Better Global Economic BRICs," coining the acronym for the four countries that would reshape the world economy– Brazil, Russia, India and China.

Clients , Innovation

Marcus by Goldman Sachs Applies Technology to a Long Legacy of Bringing Financial Expertise to Clients

In 2016, Goldman Sachs launches Marcus by Goldman Sachs, an online platform offering personal unsecured loans and savings accounts to retail clients.

Clients , Innovation