Goldman Sachs is a leading global
investment banking, securities and investment management firm that
provides a wide range of financial services to a diversified client base which
includes corporations, financial institutions, governments and individuals. It
was founded in 1869 by Marcus Goldman, the headquarter is in New York maintaining
offices in all major financial centers around the world.
They have four
business segments to report their activity to. Services including strategic
advisory assignments such as mergers and acquisitions, restructuring, risk
management, local and international transactions etc. all that fall under
investment banking. Clients services are provided such as assist client’s
transactions, make markets with institutional clients etc. Providing financial
help for clients in terms of loans which are long term are in the third segment
which is investing and lending. The last segment investment management offers
product investments as well as wealth advisory services such as financial
counseling, portfolio management etc.
Sachs advise companies on buying and selling businesses, raising capital, and
managing risks enabling them to grow. They transact, finance, support, manage,
invest, innovate these businesses. Lloyd C. Blankfein is the chairman and chief
executive officer of Goldman Sachs since 2003. Harvey M. Schwartz and David M. Solomon
are the presidents and co-chief operating officers.
As many of you know first hand, 2015 was a
tale of two halves: the first half of the year featured a strong operating
environment, but headwinds emerged, particularly during the second half, and
these headwinds persisted into early 2016. The first two quarters of 2015 were
marked by heightened demand from our corporate clients for strategic advice and
financings, strong client activity across our Equities franchise and growing
demand from our Investment Management clients for our products and services.
These factors culminated in record first-half results in Investment Banking and
Investment Management, as well as the best first-half performance for Equities
in six years. Headwinds were faced when global growth slowed down and falling
commodities such as oil emerged. This decreased client’s activities and
challenges were faced by the businesses and Goldman Sachs.