Profile: Goldman Sachs Group Inc (GS.N)
24 Mar 2017
The Goldman Sachs Group, Inc., incorporated on July 21, 1998, is an investment banking, securities and investment management company that provides a range of financial services to corporations, financial institutions, governments and individuals. The Company operates in four business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. As of December 2016, it had offices in over 30 countries.
The Investment Banking segment consists of financial advisory and underwriting. Financial Advisory includes advisory assignments with respect to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs and risk management. Financial Advisory also includes derivative transactions directly related to these client advisory assignments. It also assists its clients in managing their asset and liability exposures and their capital. The Company's underwriting activities include public offerings and private placements, including local and cross-border transactions and acquisition financing, of a range of securities and other financial instruments, including loans. Underwriting also includes derivative transactions entered into with public and private sector clients in connection with its underwriting activities. It underwrites common and preferred stock and convertible and exchangeable securities.
The Company underwrites and originates various types of debt instruments, including investment-grade and high-yield debt, bank loans and bridge loans, including in connection with acquisition financing, and growth-market debt, which may be issued by, among others, corporate, sovereign, municipal and agency issuers. In addition, the Company underwrites and originates structured securities, which include mortgage-related securities and other asset-backed securities.
Institutional Client Services
The Institutional Client Services segment makes markets and facilitates client transactions in fixed income, equity, currency and commodity products. In addition, it makes markets in and clear client transactions on stock, options and futures exchanges. Its Institutional Client Services activities are organized by asset class and include both cash and derivative instruments. It Includes client execution activities related to making markets in both cash and derivative instruments for interest rate products, credit products, mortgages, currencies and commodities. Its interest rate products include government bonds (including inflation-linked securities) across maturities, other government-backed securities, repurchase agreements, and interest rate swaps, options and other derivatives. Its credit products include investment-grade corporate securities, high-yield securities, credit derivatives, exchange-traded funds, bank and bridge loans, municipal securities, emerging market and distressed debt, and trade claims. Its mortgages include commercial mortgage-related securities, loans and derivatives, residential mortgage-related securities, loans and derivatives (including the United States Government agency-issued collateralized mortgage obligations and other securities and loans), and other asset-backed securities, loans and derivatives. Its currency products include currency options, spot/forwards and other derivatives on G-10 currencies. Its commodity products include commodity derivatives and, to a lesser extent, physical commodities, involving crude oil and petroleum products, natural gas, base, precious and other metals, electricity, coal, agricultural and other commodity products.
The Company makes markets in equity securities and equity-related products, including exchange-traded funds, convertible securities, options, futures and over-the-counter (OTC) derivative instruments. It also structures and makes markets in derivatives on indices, industry groups, financial measures and individual company stocks. Its exchange-based market-making activities include making markets in stocks and exchange-traded funds, futures and options. The Company generates commissions and fees from executing and clearing institutional client transactions on stock, options and futures exchanges around the world, as well as OTC transactions. Its securities services include financing, securities lending and other prime brokerage services. It provides financing to clients for their securities trading activities through margin loans that are collateralized by securities, cash or other acceptable collateral. It provides services that principally involve borrowing and lending securities to cover institutional clients' short sales and borrowing securities to cover its short sales and otherwise to make deliveries into the market.
Investing & Lending
The Company's investing and lending activities, which are typically longer-term, include its investing and relationship lending activities across various asset classes, primarily debt securities and loans, public and private equity securities, infrastructure and real estate. These activities include investing directly in publicly and privately traded securities and in loans, and also through certain investment funds that it manage and through funds managed by external parties. It also provides financing to corporate clients and individuals, including bank loans, personal loans and mortgages. It makes corporate, real estate, infrastructure and other equity-related investments. It makes corporate, real estate, infrastructure and other debt investments. In addition, it provides credit to corporate clients through loan facilities and to individuals primarily through secured loans. It also makes unsecured loans to individuals through its online platform.
The Investment Management segment provides investment and wealth advisory services. It manages client assets across a range of asset classes and investment strategies, including equity, fixed income and alternative investments. Its investment offerings include those managed on a fiduciary basis by its portfolio managers, as well as strategies managed by third-party managers. It offers investments in a range of structures, including separately managed accounts, mutual funds, private partnerships, and other commingled vehicles. Its wealth advisory services include income and liability management, trust and estate planning, philanthropic giving and tax planning.
Goldman Sachs Group Inc
200 West St
NEW YORK NY 10282-2102