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Goldman Sachs

Goldman Sachs

The Goldman Sachs Group, Inc. is a global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base.

The Goldman Sachs Group, Inc., is an American multinational investment bank and financial services company headquartered in New York City. It offers services in investment management, securities, asset management, prime brokerage, and securities underwriting. The bank is one of the largest investment banking enterprises in the world, and is a primary dealer in the United States Treasury security market and more generally, a prominent market maker. The bank also owns Goldman Sachs Bank USA, a direct bank.

Goldman Sachs was founded in 1869 and is headquartered at 200 West Street in Lower Manhattan with additional offices in other international financial centers. As a result of its involvement in securitization during the subprime mortgage crisis, Goldman Sachs suffered during the financial crisis of 2007-2008, and received a $10 billion investment from the United States Department of the Treasury as part of the Troubled Asset Relief Program, a financial bailout created by the Emergency Economic Stabilization Act of 2008. The investment was made in November 2008 and was repaid in June 2009.

Former employees of Goldman Sachs have moved on to government positions. Notable examples includes former U.S. Secretaries of the Treasury Robert Rubin and Henry Paulson; current United States Secretary of the Treasury Steven Mnuchin; former Under Secretary of State John C. Whitehead; former chief economic advisor Gary Cohn; European Central Bank President Mario Draghi; former Bank of Canada Governor and current Governor of the Bank of England Mark Carney and the former Prime Minister of Australia Malcolm Turnbull. In addition, former Goldman employees have headed the New York Stock Exchange, the World Bank, and competing banks such as Citigroup and Merrill Lynch. The company is ranked 70th on the Fortune 500 list of the largest United States corporations by total revenue.

Software

Technology stack

Software vendor
Reason for use

Graphics software

Adobe Marketing Cloud

Analytics

Akamai

Analytics

Akamai Edge

CDN

Used for cloud native development and cloud deployment of their servers

Open-source HTTP server for operating system

Apache Log4j

Java-based logging utility

BlackBerry Enterprise Server

Middleware software package for wireless platforms

Cinema 4D

3D software suite for three dimensional graphic development

Elasticsearch

Open-source software for searching and visualizing user data

Used for a complete ecosystem for software development, source code control, code reviews, builds and testing, and production deployment; SDCL tool.

IBM CICS

Mixed language application server for online transaction management

iCIMS

Employment management software

iModules

Education and alumni management system

Infosys's Finacle

Used to run Goldman Sach's online lending subsidiary Marcus

Kubernetes

Used for deployment, scaling and containerizing Goldman Sachs applications

Project management software

Nimble

Software for contact management

Proofpoint

On-prem email security and archiving

Roll

Software for project management

In 2019, Goldman Sachs also announced the migration of the on-premise Kubernetes cluster the company has used to a private instances on Amazon Web Services for a cloud native development.

GitLab Integration

During 2017, Goldman Sachs wanted to start modernizing their software development lifecycle. They selected GitLab as their new SDLC tool. Through the company's integration of GitLab, Goldman Sachs's engineering team was able to self-serve daily builds and move production schedules onto a daily basis. This was achieved through the use of GitLab for a complete ecosystem for development, source code control, reviews, builds and testing, and production deployments. After the initial success, Goldman Sachs tied their software platforms into GitLab. The software platforms Goldman Sachs develops includes low latency infrastructure solutions, cyber security applications, and machine learning platforms for financial engineering.

Goldman Sachs developed software

Software
Reason for use

Alloy

Software for accessing and analyzing financial databases

Marcus

Online and mobile lending subsidiary

Marquee Platform

A software platform using machine learning and artificial intelligence for the development of financial applications

SecDB

An analytics database tracking and managing financial risk and calculating $23 billion prices daily among 2.8 million positions and 500,000 market scenarios

Slang

Goldman Sachs proprietary programming language; comparable to Java or Python

StrategyStudio

Part of Zephyr, allows users to build and analyze custom investment strategies using Goldman Sachs indices

Zephyr

Platform to allow bankers to run real-time customized analyses of different debt structures

Zephy

Zephyr, one of Goldman Sachs's in-house software platforms, allows bankers to use the application in order to run real-time customized analyses of different debt structures.

StrategyStudio

The company also offer StrategyStudio, which allows clients to build and analyze a custom investment strategy using indices and customized Goldman Sachs equities and fixed income baskets.

Marquee Platform

Both of these applications were created on Goldman Sachs's Marquee platform, which uses machine learning and artificial intelligence to help their financial engineers and data scientists to develop these financial applications.

SecDB

Another of Goldman Sachs's software platforms is SecDB, an analytics database that tracks and manages risk and calculates $23 billion prices daily among 2.8 million positions and 500,000 market scenarios. Goldman Sachs has been offered $1 billion to license their SecDB platform, which they turned down. SecDB is run on its own programming language Slang, similar to Java or Python, which was developed by Goldman Sachs engineering teams.

Alloy

In November, 2019, Goldman Sachs decided to make one of the company's software platforms, Alloy, and the platform's underlying language, for free as open-source software in collaboration with a nonprofit called Finos. Alloy, the platform, accesses and analyses financial databases and was initially developed to deal with the rapid development of databases at Goldman Sachs, which were being built by different teams and using different software vendors. Alloy allows users to grab data and map various relationships across these various databases. Goldman's decision to make Alloy open-source is to help reduce costs when dealing with trading counterparties among banks and asset managers and compliance requests from regulators.

Timeline

May 19, 2021
Goldman Sachs buys stake in contract research firm Aragen Life Sciences.
September 20, 2019
The CEO of Goldman Sachs launches a music label called Payback Records

August 20, 2019
Goldman Sachs invests $72.5M in H20.ai

Products

People

Name
Role
LinkedIn

David M. Solomon

Chairman and Chief Executive Officer

Further reading

Title
Author
Link
Type
Date

Goldman Sachs - A Technology Company? - Digital Innovation and Transformation

Brittany W

Web

April 26, 2018

Goldman Sachs is planning on giving some of its most valuable software to Wall Street for free

Hugh Son

Web

November 20, 2019

Goldman Sachs Moves To Elasticsearch | Logit.io

Lee Smith

Web

September 15, 2015

Goldman Sachs Reveals Technology Behind Marcus

Penny Crosman

Web

November 30, 2016

Goldman Sachs Technology Stack, Company Profile, and More | Slintel

Web

How Goldman Sachs migrated to cloud native software development

Cliff Saran

Web

October 9, 2019

Documentaries, videos and podcasts

Title
Date
Link

Companies

Company
CEO
Location
Products/Services

News

Title
Author
Date
Publisher
Description
September 21, 2021
https://www.outlookindia.com/
The North American brokerage says India's market cap could go upto over USD 5 trillion by 2024, making it the 5th largest market by capitalization surpassing United Kingdom and Middle East
Connor Coombe-Whitlock
September 21, 2021
Express.co.uk
JPMORGAN Chase has today launched its new digital bank in the UK, as the bank introduces a fee-free current account along with a range of perks and services. This is the latest US banking giant to enter the UK savings market following Goldman Sachs, which launched its Marcus service in 2018. Some of the perks available to holders of the new account will 'blow the competition out of the water' according to an expert's review but even for those who are unsure, Chase assured more banking products are on their way to entice new customers.
Henry Pickavet
September 18, 2021
TechCrunch
Welcome back to The TechCrunch Exchange, a weekly startups-and-markets newsletter. It's inspired by what the weekday Exchange column digs into, but free, and made for your weekend reading.
September 17, 2021
The Economic Times
The developer's woes have been snowballing since May. Dwindling resources set against 2 trillion yuan ($305 billion) of liabilities have wiped nearly 80% off its stock and bond prices and an $80 million bond coupon payment now looms next week.
Ryan Lawler
September 15, 2021
TechCrunch
The acquisition is positioned to bolster the firm's consumer business and offer new products and new ways to attract consumers to its Marcus by Goldman Sachs brand of finance products.
Kalyeena Makortoff
September 6, 2021
the Guardian
Companies such as PwC and Goldman Sachs offering extra perks to persuade home workers to return
Nils Pratley
September 6, 2021
the Guardian
The government's failure to act over the need for more drivers came under fire from an unexpected quarter
Kalyeena Makortoff
September 6, 2021
the Guardian
Portfolio of alternative asset managers aims to take advantage of boom in private equity market
Kellen Browning, Lauren Hirsch and Coral Murphy Marcos
September 6, 2021
www.nytimes.com
After the Delta variant disrupted plans to reopen after Labor Day, many businesses pushed their targets further out or left them open-ended.
Graeme Wearden
September 1, 2021
the Guardian
Huw Pill, former chief European economist at Goldman Sachs, is joining the Bank of England as chief economist next week. Photograph: Bloomberg/Getty Images
Omar Faridi
August 31, 2021
Crowdfund Insider
Digital assets prime broker SFOX has appointed former Goldman Sachs exec John Mannino as Compliance Director.
August 30, 2021
The Economic Times
Goldman Sachs believes Zomato can achieve profitability at an operating level by 2023-24 driven by larger scale, higher take rates and improving rider efficiency.
WIRED
August 28, 2021
Ars Technica
Requirements always have to be achievable and equitable.
August 27, 2021
Moneycontrol
The government expects to raise Rs 80,000 crore-90,000 crore ($11 bln-12.2 bln) from its stake sale in Life Insurance Corp (LIC), as part of its plans to raise Rs 1.75 lakh crore from a privatisation programme in the current fiscal year ending in March 2022.
August 27, 2021
mint
The government expects to raise 800 billion-900 billion rupees ($11 bln-12.2 bln) from its stake sale in Life Insurance Corp (LIC), as part of its plans to raise 1.75 trillion rupees from a privatisation programme in the current fiscal year ending in March
Graeme Wearden
August 24, 2021
the Guardian
UK property sales fell back in July, after hitting all-time highs in June Photograph: Maureen McLean/REX/Shutterstock
Jose Maria Barrero
August 24, 2021
Harvard Business Review
More than 40% of U.S. workers would start looking for another job if forced to return five days a week.
Samantha Leathers
August 22, 2021
Express.co.uk
ROMINA SAVOVA, young entrepreneur and pensions specialist, explores product market fit and company values to ensure start-up success.
August 19, 2021
WebWire
Apple Card, created by Apple, is the only card issued by Goldman Sachs, which ranked highest among the Midsize Credit Card segment in the J.D. Power 2021 U.S. Credit Card Satisfaction StudySM and received a chart-topping score of 864.1 Apple Card and issuer Goldman Sachs also ranked highest in the Midsize Credit Card segment across all of the surveyed categories, including interaction, credit card terms, communication, benefits and services, rewards, and key moments. "It is exciting to...
August 16, 2021
The Economic Times
Potential bidders including North American private equity and infrastructure funds, as well as state-backed funds in China and South Korea have been approached by Aramco through its advisors before a formal sale process kicks off in the next few weeks.
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References

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