In 2008, as the U.S. and grater global economy endured the turmoil of the financial crisis, countless firms and investment banks closed their doors, Goldman Sachs, however, weathered the storm, continuing its position as a key player in the global investment banking industry. Although the bank operates in several segments of the banking industry, it is probably most known for providing
, and for being the underwriter for initial public offerings (IPOs). Historically, Goldman Sachs has been a prominent underwriter bringing many of the
. This trend continued into the
across several global exchanges. While the bank has numerous revenue streams, investment banking is a notable category, with
What does Goldman Sachs do?
In addition to investment banking, Goldman Sachs has also operated a global markets division, an asset management division, and a consumer and wealth management division. Their clients have included corporations, financial institutions, governments, and high-net-worth individuals. Despite the bank's extensive success within investment banking – they are also the
largest financial advisor to mergers and acquisitions worldwide; However, this is not the area that has historically brought the highest net revenues. Out of
Goldman Sachs’ total net revenue of around 46.25 billion U.S. dollars in 2023, the
largest share came from their Global Markets division, which provides Fixed Income Clearing Corporation (FICC) intermediation and financing, and equities intermediation and financing.
Who are their largest competitors?
Competitors and market position vary depending on which business segment is being considered. While Goldman has historically been a
market leader when it comes to investment banking activities, the company is less prominent in other fields of the industry. In
overall commercial banking performance, Goldman Sachs ranks seventh in the United States, below JPMorgan chase (the largest), Bank of America, Citigroup, and Wells Fargo (
commonly known as “the big four”). While on a global scale, Goldman falls outside the top rankings for the largest asset manager, competing against not primarily other commercial banks, but asset management firms such as
market leader BlackRock, Vanguard, Fidelity, and State Street. While the financial sector is a tough and competitive landscape to navigate, Goldman Sachs is forecast to continue successfully operating following its diversified operations, wide customer segments and adaptable strategy.
This text provides general information. Statista assumes no
liability for the information given being complete or correct.
Due to varying update cycles, statistics can display more up-to-date
data than referenced in the text.
