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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

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

Funded Companies

Company
Description
Industry
Website
Location
ByteDance

ByteDance is a Beijing-based company founded in 2012 by Zhang Yiming.

Zymergen, founded in 2013 and located in Emeryville, California, is a technology company providing organisms engineering services. Their biotechnology labs rely on advanced manufacturing technologies, machine learning techniques, and genomics to accelerate the design, build, test cycle of microorganisms.

Nubank is a financial technology company based in Brazil issuing, administrating, processing and transfering payments related to post-paid credit cards and equity investments.

EVEN Financial offers a B2B2C API to help connect financial institutions to consumers, and connect consumers to personalized financial products.

Canadian Company that designs and manufactures quantum computing and superconducting electronics, and AI software.

Big Switch Networks is a Santa Clara, California-based company founded in 2010.

Zipline is an automated logistics company that designs, manufactures, and delivers medical products.

Compass is a real estate technology company providing real estate listing application for buying, selling and renting properties.

Better Mortgage offers an online mortgage application which promises faster preapproval and a better rate.

ZestMoney is an Indian fin-tech company that specialises in consumer lending.

Rethink Robotics developed and patented Sawyer, a robot that can replace human labor where danger is likely or difficult.

196 Results
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Acquisitions

Acquisition
Acquired company
Acquisition amount (USD)
Date announced
1 Result
Results per page:
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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
Samantha Stokes and Anita Ramaswamy
May 15, 2021
Business Insider
Barclays poached a Credit Suisse executive, another executive exits Goldman, and a JPMorgan diversity exec went to MSCI.
Ayelet Sheffey
May 14, 2021
Business Insider
Goldman Sachs said that generous unemployment insurance has created a higher 'reservation wage' -- but it will only be 3% higher and gradually fade.
Kate Kelly
May 14, 2021
www.nytimes.com
Thomas K. Montag, the bank's No. 2 executive, has long run its markets and corporate banking division with favoritism and an iron fist, employees say.
Richard Partington
May 11, 2021
the Guardian
The crypto asset is down more than 30% this week but is still up by more than 1,000% from the start of 2021
JD Alois
May 11, 2021
Crowdfund Insider
Click HERE to find out ⭐ To the Moon! Goldman Sachs MD Exits Bank After Making Big Money in Dogecoin. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more.
Carter Johnson, Rebecca Ungarino, Samantha Stokes, Vicky Ge Huang and William Edwards
May 11, 2021
Business Insider
From pandemic favorites like Peloton to names expecting a comeback, here the stocks that up-and-coming equity research analysts are backing.
Ellavoz Impact Capital
May 11, 2021
www.prnewswire.com:443
/PRNewswire/ -- Ellavoz Impact Capital announced today that Adriana Piltz, Jack Kleinert and Howard Cohen will be joining their Independent Investor...
Matthew Fox
May 10, 2021
markets.businessinsider.com
"The FAAMG stocks have appreciated by $5 trillion during the last 5 years, accounting for 29% of the S&P 500 market cap increase during that time."
Will Daniel
May 10, 2021
markets.businessinsider.com
The rotation from growth stocks to value stocks set to benefit from the economic reopening still has room to run, a Goldman Sachs equities executive said.
Matthew Fox
May 10, 2021
Business Insider
"The FAAMG stocks have appreciated by $5 trillion during the last 5 years, accounting for 29% of the S&P 500 market cap increase during that time."
Isabelle Lee
May 10, 2021
markets.businessinsider.com
It is believed that the former executive will be starting his own hedge fund, according to a report from eFinancialCareers.
Samantha Stokes
May 10, 2021
Business Insider
Wall Street is headed back to office, and demand is up for comfy materials and bright colors. One bespoke clothing company says "everyone wants something stretchy."
Sophie Kiderlin
May 10, 2021
markets.businessinsider.com
As the economy picks up, inflation rises and monetary policy remains loose, commodities will keep surging, Goldman Sachs says.
Dan DeFrancesco and Jordan Parker Erb
May 10, 2021
Business Insider
The top finance stories for May 10, including the latest news on how ESG is transforming investment banking.
Reza Chowdhury
May 7, 2021
AlleyWatch
The Pulse of New York Tech
Frank Chaparro
May 7, 2021
The Block
The Block's Frank Chaparro chats with Ritholtz Wealth Management CEO Josh Brown.
Shalini Nagarajan
May 7, 2021
markets.businessinsider.com
The memo is the first time the US bank has formally acknowledged its involvement in the reported plans.
Harry Robertson
May 7, 2021
markets.businessinsider.com
The sectors that were hardest hit by the pandemic, such as travel, are rapidly improving as the economy bounces back, Goldman Sachs said.
Harry Robertson
May 7, 2021
Business Insider
The sectors that were hardest hit by the pandemic, such as travel, are rapidly improving as the economy bounces back, Goldman Sachs said.
Isabelle Lee
May 6, 2021
markets.businessinsider.com
The bank will hedge with CME futures using Cumberland DRW as its trading partner, Bloomberg Law reported.
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References

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