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

Adobe Illustrator

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

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GitLab is a web-based open source Git repository manager and collaboration platform with wiki and issue tracking features and built-in CI/CD.

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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

Web

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
Theo Golden
January 22, 2021
Business Insider
Business Insider
January 22, 2021
Business Insider
A banker, a lawyer and a venture capitalist share their secrets for how to think about the IPO market this year.
Dakin Campbell and Reed Alexander
January 22, 2021
Business Insider
Jemma Wolfe and Stephan Lambert have been tapped to run the consumer and wealth management group's strategy team, according to a memo seen by Insider.
Dakin Campbell and Reed Alexander
January 22, 2021
Business Insider
The product management team "will partner with business leaders, clients, and customers" to enhance Goldman's consumer offerings, the memo said.
Dakin Campbell
January 21, 2021
Business Insider
A banker, a lawyer and a venture capitalist share their secrets for how to think about the IPO market this year.
William Edwards
January 21, 2021
Business Insider
With earnings set to soar in 2021 as the economy recovers, Goldman Sachs' David Kostin highlights 22 stocks with the most room to rebound.
Ben Winck
January 20, 2021
Business Insider
The streaming giant reported subscriber additions and revenue that beat Wall Street estimates. Earnings landed just below forecasts.
Reed Alexander, Rebecca Ungarino, Carter Johnson and Dakin Campbell
January 20, 2021
Business Insider
Goldman Sachs just reported fourth-quarter earnings, and execs gave an update on a multi-year plan it the bank first laid out at investor day in 2020.
Petco Health and Wellness Company, Inc.
January 19, 2021
www.prnewswire.com:443
/PRNewswire/ -- Petco Health and Wellness Company, Inc. ("Petco"), a complete partner in pet health and wellness, today announced the closing of its initial...
The Associated Press
January 19, 2021
CTVNews
Goldman Sachs said its profits more than doubled from a year earlier thanks to a surge in both trading and advising revenue.
Ben Winck
January 19, 2021
markets.businessinsider.com
The transition between bear and bull markets is often marked by strong volatility and a brief setback before steady gains, the bank said.
Emily Graffeo
January 19, 2021
markets.businessinsider.com
Former Federal Reserve Chair, Janet L. Yellen, President- elect Joe Biden pick to be Treasury Secretary Washington Post/Getty Images US stocks ...
Theo Golden
January 19, 2021
Business Insider
Say hello to the new titans of the energy world. Here's Goldman Sachs' strategy to play the energy transformation as the world moves to net zero.
Ortho Clinical Diagnostics
January 19, 2021
www.prnewswire.com:443
/PRNewswire/ -- Ortho Clinical Diagnostics Holdings plc ("Ortho"), the world's largest pure-play in vitro diagnostics company dedicated to improving and saving...
Ben Winck
January 19, 2021
markets.businessinsider.com
The bank added $293 million to its loan-loss reserves through the quarter, further bolstering its safety net at the expense of stronger profits.
Amanda Cooper
January 19, 2021
markets.businessinsider.com
This is what traders are talking about.
Shalini Nagarajan
January 18, 2021
markets.businessinsider.com
Eric Thayer/Reuters Goldman Sachs raised its US GDP forecast to 6.6% on Joe Biden's $1.9 trillion stimulus plan.Bank economists now project a ...
Marley Jay
January 17, 2021
Business Insider
Goldman Sachs says these companies have beaten the market recently, and will be some of the biggest beneficiaries of the economic recovery in 2021.
Kalyeena Makortoff Banking correspondent
January 17, 2021
the Guardian
Profits at the bank are down less than $1bn even in a year when alleged scandal in Malaysia added to Covid woes
Gregory Magana
January 15, 2021
Business Insider
Goldman announced that it will work with Marqeta on building its Marcus checking account offering, expected to debut later this year.
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References

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