Marcus Goldman

Marcus Goldman (1821–1904) was a German-American banker who founded a New York commercial-paper business that became Goldman Sachs.

Goldman Sachs: Goldman Sachs is a global financial institution founded in New York in 1869. Goldman founded the commercial-paper business that took his name.
Ludwig Bamberger: Ludwig Bamberger was a German banker, politician, and economist who helped establish the Reichsbank. Like Goldman, he was a German-born Jewish financier whose career connected German and American economic life.
Investment banking: Investment banking is the business of raising capital for organizations and advising on financial transactions. Goldman’s firm grew from a narrow trading operation into an investment bank.
Initial public offering: An initial public offering is a company’s first sale of shares to public investors. Goldman Sachs later became a major underwriter of offerings, far beyond its founder’s original business.
Commercial paper: Commercial paper is a short-term, unsecured debt instrument issued by businesses to meet near-term funding needs. Trading commercial paper was the business Goldman established in New York.
John Pierpont Morgan: John Pierpont Morgan was an American financier who built a powerful banking house centered on corporate finance and industrial consolidation. Morgan’s prominent banking house illustrates a different model of nineteenth-century American finance.
Merchant banking: Merchant banking combines financial services with direct investment or lending to businesses. Goldman’s early firm belonged to a commercial-finance world where bankers built close business relationships.
Sears, Roebuck and Company: Sears, Roebuck and Company was an American retailer whose shares Goldman Sachs helped take public in 1906. The Sears offering marked an early landmark in the firm’s move into securities underwriting.
New York City: New York City is the largest city in the United States and a major center of commerce and finance. Goldman built his banking business in the city’s expanding financial market.
Jacob Schiff: Jacob Schiff was a German-born American banker who led Kuhn, Loeb & Co. and financed major railroads. Schiff was another German-Jewish immigrant who became influential in American investment banking.

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