The Goldman Sachs Group, Inc. is a leading global financial institution providing a wide range of financial services to a diverse client base, including corporations, financial institutions, governments, and individuals. Founded in 1869, the firm's purpose is to advance sustainable economic growth and financial opportunity. Goldman Sachs operates under the "One Goldman Sachs" initiative, aiming to deliver comprehensive services and expertise to clients efficiently across various business and product areas. The firm manages its activities within three primary segments: Global Banking & Markets, Asset & Wealth Management, and Platform Solutions.

Global Banking & Markets serves institutional clients by offering investment banking services (including advisory and underwriting), market making in various financial instruments (fixed income, currencies, commodities, and equities), and financing activities. Asset & Wealth Management provides investment services to institutional and individual clients, focusing on preserving and growing financial assets. Services include asset management across diverse asset classes, wealth advisory, private banking, and lending. Platform Solutions encompasses consumer platforms (credit cards and point-of-sale financing through partnerships like Apple Card and GreenSky) and transaction banking services for corporate and institutional clients.

Goldman Sachs emphasizes developing long-term client relationships and delivering a seamless experience across its services. The firm leverages global reach, advanced technology platforms (like Marquee), and a strong commitment to risk management to maintain its market position and competitive advantage.

• Employees: 45,300 (as of December 2023)
• Geographic Footprint: Offices in over 41 countries
• Headquarters: 200 West Street, New York, NY
• Founded: 1869
• Number of locations/facilities: Not specified
• Revenue: $46.25 billion (FY2023)
• Market Capitalization: $106.2 billion (as of June 30, 2023)
• Key Subsidiaries/Brands: Goldman Sachs Bank USA, Goldman Sachs & Co., LLC, Goldman Sachs International, Marcus by Goldman Sachs

• CEO: David Solomon (since October 2018)
• CFO: Denis P. Coleman III (since January 2022)
• Board Chair: David Solomon (since January 2019)
• Other Key Executives: John E. Waldron (President and COO), Philip R. Berlinski (Global Treasurer), Sheara J. Fredman (Controller and CAO), Brian J. Lee (CRO), Kathryn H. Ruemmler (CLO, General Counsel and Secretary)

• Annual Revenue: $46.25 billion (FY2023)
• Net Income: $8.52 billion (FY2023)
• Market Cap: $106.2 Billion (as of June 30, 2023)
• Total Assets: $1.64 trillion (FY2023)
• Number of Employees: 45,300 (as of December 2023)
• Key Financial Highlights: Net earnings decreased 24% year-over-year. Return on average common equity was 7.5%. Book value per common share increased 3.3% year-over-year.

Goldman Sachs offers a diversified range of financial products and services across its three business segments.

• Investment Banking: Provides advisory and underwriting services to corporations, financial institutions, and governments, including mergers and acquisitions, divestitures, corporate defense, restructurings, and capital raising through equity and debt offerings.
• Global Markets: Offers sales and trading, and securities services across fixed income, currency, commodity, and equity products. Also provides prime brokerage services, including securities lending and margin financing.
• Asset Management: Provides investment management services to institutional and individual clients across various asset classes, including equity, fixed income, and alternative investments. Offers customized investment advisory solutions, portfolio management, and risk management services.
• Wealth Management: Offers wealth advisory, private banking, lending, and financial planning services to high-net-worth individuals and families.
• Consumer Banking & Lending: Offers deposit accounts, personal loans, and credit cards through Marcus by Goldman Sachs and partnerships.
• Transaction Banking: Provides cash management services, including deposit-taking and payment solutions, to corporate and institutional clients.

Goldman Sachs operates through three primary business segments:

• Global Banking & Markets: Provides investment banking, securities trading, and financing services to institutional clients. Generated $29.99 billion in net revenue in FY2023, representing 65% of the firm's total net revenue.
• Asset & Wealth Management: Offers investment and wealth management services to institutional and individual clients. Generated $13.88 billion in net revenue in FY2023, representing 30% of the firm's total net revenue.
• Platform Solutions: Provides consumer banking and transaction banking services. Generated $2.38 billion in net revenue in FY2023, representing 5% of the firm's total net revenue.

Goldman Sachs' primary business strategy revolves around the "One Goldman Sachs" initiative, which emphasizes collaboration and integration across all business segments to deliver a comprehensive suite of services to clients. The firm focuses on building long-term client relationships and providing customized solutions. Key strategic initiatives include:

• Expanding its presence in growing markets and client segments.
• Investing in technology and innovation to enhance client experience and operational efficiency.
• Strengthening risk management and control frameworks.
• Prioritizing sustainable finance and investing in ESG initiatives.
• Optimizing capital allocation and returning excess capital to shareholders through dividends and share repurchases.
• Narrowing its consumer business focus.

Goldman Sachs aims to achieve a return on average common equity within a range of 14% to 16% and a return on average tangible common equity within a range of 15% to 17% over the medium term.

Goldman Sachs operates in the highly competitive global financial services industry. The firm competes with a wide range of institutions, including investment banks, commercial banks, asset managers, and financial technology companies. Key industry trends affecting the business include:

• Increasing competition from both established players and new entrants, particularly in technology-driven areas.
• Evolving regulatory landscape and increasing compliance requirements.
• Growing demand for sustainable finance and ESG investing.
• Technological advancements and the rise of digital platforms.
• Market volatility and uncertainty driven by macroeconomic and geopolitical factors.

• Market Risk: The firm's businesses are exposed to significant market risks, including interest rate risk, equity price risk, currency rate risk, and commodity price risk, which can adversely impact earnings due to changes in market conditions.
• Credit Risk: The firm faces credit risk from counterparties, borrowers, and issuers of securities and other instruments. Deterioration in credit quality or defaults by these parties could lead to significant losses.
• Operational Risk: The firm is exposed to operational risks from inadequate or failed internal processes, people, systems, or external events, including cybersecurity threats, which could disrupt business operations, result in financial losses, and damage reputation.
• Liquidity Risk: The firm faces liquidity risk, the risk of being unable to meet its funding needs or to fund itself in a cost-effective manner, which could disrupt operations and lead to losses.
• Legal and Regulatory Risk: The firm operates in a highly regulated environment and faces the risk of legal and regulatory sanctions, financial losses, and reputational damage from non-compliance with applicable laws, rules, and regulations.