Goldman Sachs Group
Summary
- The Goldman Sachs Group, Inc. is a leading global financial institution.
- Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.
The Goldman Sachs Group, Inc. (NYSE: GS) is a leading global financial institution. The group offer broad range of financial services to a large and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.
Financial Highlights
Goldman Sachs Group generated net earnings of $11.26 billion for 2022, compared with $21.64 billion for 2021. Diluted earnings per common share (EPS) was $30.06 for 2022, compared with $59.45 for 2021. Return on average common shareholders’ equity (ROE) was 10.2% for 2022, compared with 23.0% for 2021. Book value per common share was $303.55 as of December 2022, 6.7% higher compared with December 2021.1
Net revenues were $47.37 billion for 2022, 20% lower than a strong 2021. Provision for credit losses was $2.72 billion for 2022, compared with $357 million for 2021. Operating expenses were $31.16 billion for 2022, 2% lower than 2021.
During 2022, the company returned a total of $6.70 billion to shareholders, including common stock repurchases of $3.50 billion and common stock dividends of $3.20 billion. As of December 2022, its CET1 capital ratio was 15.1% under the Standardized Capital Rules and 14.4% under the Advanced Capital Rules
Company Overview
The Goldman Sachs Group, Inc. is a leading global financial institution. The group offer broad range of financial services to a large and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.
Beginning with the fourth quarter of 2022, consistent with its previously announced organizational changes, the company began managing and reporting its activities in three new segments: Global Banking & Markets, Asset & Wealth Management and Platform Solutions.
Global Banking & Markets is a new segment that includes the results previously reported in Investment Banking and Global Markets, and additionally includes the results from equity and debt investments related to its Global Banking & Markets activities, previously reported in Asset Management.
Asset & Wealth Management is a new segment that includes the results previously reported in Asset Management and Wealth Management (previously included in Consumer & Wealth Management), and additionally includes the results from its direct-toconsumer banking business, which includes lending, deposit-taking and investing, previously reported in Consumer & Wealth Management, as well as the results from middle-market lending related to its asset management activities, previously reported in Investment Banking
Platform Solutions is a new segment that includes the results from its consumer platforms, such as partnerships offering credit cards and point-of-sale financing, previously reported in Consumer & Wealth Management, and the results from its transaction banking business, previously reported in Investment Banking.
Product and Services
The company offer following services.2
- Asset & Wealth Management
- Global Banking & Markets
- Platform Solutions
- Global Investment Research
Company History
Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.3
| Year | Milestone |
| 1869 | Marcus Goldman establishes M. Goldman & Co. in New York City to trade commercial paper and promissory notes. |
| 1882 | Samuel Sachs joins the firm, and it is renamed Goldman Sachs & Co. |
| 1906 | The firm becomes a member of the New York Stock Exchange. |
| 1928 | Sidney Weinberg becomes a partner in the firm and helps to transform it into a major investment bank. |
| 1930s | Goldman Sachs advises on a number of high-profile corporate mergers and restructurings, including the creation of RCA Corporation and the merger of Sears and Roebuck. |
| 1970s | Goldman Sachs expands its operations overseas, opening offices in London, Frankfurt, Tokyo, and other cities. |
| 1999 | The firm goes public, raising $3.7 billion in one of the largest initial public offerings in history. |
| 2008 | During the global financial crisis, Goldman Sachs receives a $10 billion investment from the U.S. government as part of the Troubled Asset Relief Program (TARP). |
| 2010 | The firm pays $550 million to settle charges brought by the Securities and Exchange Commission (SEC) that it misled investors in a complex mortgage securities transaction. |
| 2012 | Goldman Sachs CEO Lloyd Blankfein testifies before Congress about the firm's role in the financial crisis. |
| 2020 | Goldman Sachs announces plans to invest $10 billion over the next decade to advance economic opportunities for black women. |