What Goldman Sachs & Co. LLC does

Goldman Sachs & Co. LLC is the primary US broker-dealer entity of The Goldman Sachs Group, Inc. (NYSE: GS), a global investment banking, securities, and investment management firm founded in 1869 and headquartered at 200 West Street, New York. The firm operates through three principal business segments: Global Banking & Markets (Investment Banking advisory, FICC and Equities trading, the Marquee institutional digital platform, and the tech-forward Transaction Banking platform), Asset & Wealth Management (Goldman Sachs Asset Management with over $3 trillion in assets under supervision, Private Wealth Management, Private Banking and Lending, Ayco financial planning, and Marcus consumer digital banking), and Platform Solutions (Enterprise Partnerships embedding financial products into partner ecosystems including the Apple Card). The firm holds the #1 global ranking in M&A advisory by cumulative announced deal volume from 2000-2025 and the #1 Equities franchise globally by 2024 revenues, serving the world's most influential corporations, institutions, governments, and ultra-high net worth individuals across more than a dozen major financial centers.

Goldman Sachs makes money through a diversified mix of transaction-based and recurring revenue streams: M&A and capital markets advisory fees (Investment Banking), trading spreads and principal revenues (FICC and Equities), asset management fees tied to over $3 trillion in assets under supervision, subscription-style wealth management fees, corporate treasury service fees (Transaction Banking), and licensing/embedded finance economics (Enterprise Partnerships, including Apple Card). Distribution is overwhelmingly direct and relationship-driven through investment bankers and private wealth advisors organized by industry group, region, and client segment, supplemented by self-serve digital channels (Marquee, Marcus) and embedded partner ecosystems.

The firm's technology stack spans proprietary digital platforms (Marquee, Transaction Banking, Marcus, Goldman Sachs University learning platform) and the newly created Capital Solutions Group, which unifies financing, origination, structuring, and risk management across Global Banking & Markets. AI and machine learning are applied across the franchise — generative AI, natural language processing, knowledge retrieval, predictive analytics for quantitative trading, and process automation — supporting quantitative strategists, research production, and operational workflows. Headcount stood at over 46,000 globally as of 2024, with the firm receiving more than 1 million external applications annually.

Name

Goldman Sachs & Co. LLC

Legal name

Goldman Sachs & Co. LLC

Website

https://goldmansachs.com

Company type

Public

Founded year

1869

Operating status

Operating

Short description

Goldman Sachs & Co. LLC is the primary US broker-dealer subsidiary of The Goldman Sachs Group, Inc. (NYSE:GS), providing investment banking advisory, capital markets execution, asset and wealth management, transaction banking, and embedded consumer finance to corporations, institutions, governments, and ultra-high net worth individuals globally.

Ownership category

akta.pro rank

Product category

Investment Banking

NAICS

Portfolio Management and Investment Advice (52394), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Portfolio Management and Investment Advice (523940), All Other Financial Investment Activities (52399)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282)

akta.pro primary industry

Corporate Finance Advisory (Strategic Finance, Capital Structure & Recaps) (FSAEAGAE)

akta.pro secondary industries

Corporate Finance & Capital Advisory (BPAHADAB), Real Estate (Commercial Property, REITs) (FSABACAH), Healthcare & Pharmaceuticals (FSABACAN), Consumer & Retail (CPG, Food, Apparel) (FSABACAM)

Keywords

• Investment banking services
• Wealth management advisory
• Asset management solutions
• Capital markets trading
• Mergers and acquisitions advisory

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices13 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Investment Banking: Advisory, financing, and liability management services for corporations and institutions. Includes M&A advisory (ranked #1 globally by Dealogic, 2000-2025), capital solutions covering equity capital markets, investment grade capital markets, leveraged finance, structured finance, fund financing, and commercial/residential real estate.
2. FICC and Equities: Global fixed income, currencies, commodities (FICC) and equities franchise, making markets and serving institutional and corporate clients with interest rate and credit products, mortgages, currencies, commodities, equity and convertible securities, ETFs, options, futures, derivatives, and prime financing. Ranked #1 Equities franchise globally by 2024 revenues.
3. Asset Management: Leading global active asset manager with over $3 trillion in assets under supervision (as of Goldman Sachs Annual Report on Form 10-K for fiscal year ended December 31, 2024), offering investment and advisory services across public and private markets for institutions, financial advisors, and individuals. Covers Equity, Fixed Income, Liquidity Solutions, Alternatives, Multi-Asset Solutions, and External Investing Group.
4. Private Wealth Management: Premier wealth management for ultra-high net worth individuals, family offices, foundations, executives, and employees, providing personalized advice, investment platforms, lending capabilities, and strategic borrowing solutions including private banking and cash management.
5. Marcus by Goldman Sachs: Digital banking platform for consumers providing financial products and tools that benefit from Goldman Sachs' financial expertise, including high-yield savings accounts and credit cards (via Enterprise Partnerships).
6. Ayco: Financial planning and investment solutions through corporate-sponsored programs for executives, employees, and individuals, focused on maximizing the value of benefits and compensation offerings.
7. Transaction Banking (TxB): Tech-forward banking platform providing electronic payment, foreign exchange, and liquidity management services for corporate treasurers and payments executives.
8. Enterprise Partnerships: Embedding financial products — including credit cards, installment financing, and high-yield savings accounts — into major brands' ecosystems to help them serve millions of customers.
9. Global Private Credit: Scaled private credit business with approximately $145 billion in total alternative assets as of January 2025, growing through expanded alternatives investment team in Asset & Wealth Management.

Go-to-market motion3 records

Distribution channels7 records

Marketing channels7 records

Core offering

Goldman Sachs & Co. LLC is a leading global financial institution providing investment banking advisory (M&A, equity and debt capital markets), FICC and Equities trading, asset management with over $3 trillion in assets under supervision, private wealth management for ultra-high net worth individuals, transaction banking for corporate treasuries, and consumer digital banking (Marcus). The firm also delivers embedded financial products through Enterprise Partnerships (including Apple Card) and serves corporations, financial institutions, governments, and individuals across more than 10,000 corporate relationships globally.

Product overview

Goldman Sachs & Co. LLC is a leading global financial institution organized into three main business segments: Global Banking & Markets (Investment Banking, FICC and Equities, Marquee digital platform, Transaction Banking), Asset & Wealth Management (Asset Management with over $3 trillion in assets under supervision, Private Wealth Management, Private Banking and Lending, Ayco, Marcus consumer banking), and Platform Solutions (Enterprise Partnerships embedding financial products into partner ecosystems, Apple Card). The firm also provides Global Investment Research and operates the Goldman Sachs Global Institute. The Capital Solutions Group, created in January 2025, combines financing, origination, structuring, and risk management capabilities. Marquee serves institutional clients with market intelligence and pre-trade analytics, while Transaction Banking supports corporate treasury needs. Consumer offerings include Marcus by Goldman Sachs digital banking and the Apple Card partnership.

Differentiator

Problem solved

Functional benefit

Brands

• Marquee: Digital platform for institutional and corporate clients delivering market intelligence and pre-trade analytics
• Marcus
• Ayco
• Transaction Banking (TxB)
• 10,000 Small Businesses
• 10,000 Women
• One Million Black Women
• Goldman Sachs Gives

Products and services

• Investment Banking World's preeminent investment bank providing financing, advisory services, and liability management for corporations and institutions, including M&A advisory and Capital Solutions Group capabilities.
• Mergers & Acquisitions Advisory #1 ranked M&A advisory team globally (Dealogic 2000-2025) partnering with distinguished business leaders to provide advice and leverage Goldman Sachs' global network to seize opportunities and maximize value.
• Capital Solutions Group World-renowned Capital Solutions Group providing global leaders with deep expertise and exceptional execution across the full range of underwriting services, including equity capital markets, investment grade capital markets, leveraged finance, structured finance, fund financing, and commercial/residential real estate.
• FICC and Equities One of the broadest and deepest global franchises with experienced traders, sales professionals, and risk managers pursuing opportunities to deliver long-term performance across trading, risk, and lending services. Includes FICC (interest rate and credit products, mortgages, currencies, commodities, financing) and #1 Equities franchise globally.
• Marquee Platform Digital platform for institutional and corporate clients delivering leading market intelligence and pre-trade analytics to refine market views, manage risk, and execute trading strategies.
• Transaction Banking (TxB) Tech-forward banking platform for corporate treasurers and payments executives meeting electronic payment, foreign exchange, and liquidity needs.
• Asset Management (GSAM) Leading global active asset manager with over $3 trillion in assets under supervision, delivering investment and advisory services across public and private markets for institutions, financial advisors, and individuals. Products include Equity, Fixed Income, Liquidity Solutions, Alternatives, Multi-Asset Solutions, and External Investing Group.
• Private Wealth Management Premier wealth management franchise harnessing the firm's global network, unique sourcing capabilities, and deep experience to provide personalized perspectives, advice, and offerings tailored to ultra-high net worth individuals, family offices, foundations, executives, and employees.
• Private Banking and Lending Cash management and full suite of strategic borrowing solutions, harnessing deep lending expertise across asset classes to help clients activate liquid and illiquid balance sheet assets and grow and preserve wealth.
• Ayco Financial Planning Financial planning and investment solutions through corporate-sponsored programs and a team of advisors, focused on maximizing value of benefits and compensation offerings and access to the wealth platform for executives, employees, and individuals.
• Marcus by Goldman Sachs Digital banking platform connecting consumers with financial products and tools that benefit from Goldman Sachs' history of financial expertise, including high-yield savings accounts and credit cards.
• Enterprise Partnerships Embedding financial products — including credit cards, installment financing, and high-yield savings accounts — into major brands' ecosystems to help them serve millions of customers.
• Apple Card Credit card offered in partnership with Apple, providing a digital-first credit card experience integrated with Apple Wallet.
• Global Investment Research Research coverage and analysis across global economies, markets, and industries provided to clients, including insights on macroeconomics, artificial intelligence, markets, and geopolitics.

Quantifiable outcome

• 95%+ of clients give Goldman Sachs top ratings of 'Best People' and 'Expertise' (2023 Biennial Client & Stakeholder Survey)
• +4 more outcomes

Named customers10 records

Segments6 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability7 records

Feature4 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• ApplecoreOEM/ Whitelabel/ Licensing PartnerGoldman Sachs and Apple maintain a long-standing Enterprise Partnership in which Goldman Sachs provides the financial infrastructure for Apple Card (credit card), Apple Savings (deposit account), and related consumer financial products embedded within Apple's ecosystem. Goldman Sachs Bank USA issues the Apple Card and manages the savings account, with the partnership designed to serve millions of Apple customers with financial products leveraging Goldman Sachs' financial expertise.
• NEOS InvestmentscoreStrategic or Co-development PartnerGoldman Sachs agreed to acquire NEOS Investments, adding $30 billion in options-based income ETFs to its active ETF franchise. The acquisition positions Goldman Sachs Asset Management as a top-eight active ETF provider with scaled, differentiated options-based solutions.
• 10,000 Small BusinessesminorStrategic or Co-development PartnerGoldman Sachs runs the 10,000 Small Businesses program, helping entrepreneurs create jobs and economic opportunity through rigorous business education programs, access to capital, and networking. This is a community impact and economic development initiative rather than a commercial business partnership.
• 10,000 WomenminorStrategic or Co-development PartnerGoldman Sachs runs the 10,000 Women program, a global initiative providing business education and networking resources to women entrepreneurs.
• One Million Black WomenminorStrategic or Co-development PartnerGoldman Sachs initiative focused on economic empowerment and opportunity for Black women through capital access and mentorship programs.
• AycocoreOEM/ Whitelabel/ Licensing PartnerAyco, a Goldman Sachs company, provides financial planning and investment solutions through corporate-sponsored programs for executives, employees, and individuals, curating solutions that maximize the value of benefits and compensation offerings.
• Goldman Sachs Asset Management (GSAM)coreOEM/ Whitelabel/ Licensing PartnerGSAM is a wholly-owned Goldman Sachs business providing asset management services across public and private markets. The firm operates at am.gs.com and distributes investment products globally to institutions, financial advisors, and individuals.

Scale indicators12 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• Barclays: Bulge bracket Investment Bank with direct overlap in M&A advisory, FICC, and Equities, particularly strong in EMEA. Barclays Investment Bank is a like-for-like global competitor to GS Global Banking & Markets.
• Deutsche Bank: Global bulge bracket with a meaningful Corporate Bank and Investment Bank franchise. Deutsche Bank competes with GS across advisory, debt capital markets, and trading, particularly across European and emerging market corporates.
• Lazard: Pure-play M&A advisory and asset management firm that competes directly with GS in high-end M&A mandates and is a particularly relevant peer for GS's Investment Banking Division and GSAM on smaller strategic transactions.
• Citigroup: Direct competitor across investment banking, equities, FICC, and transaction banking, with particular strength in emerging markets. Citi's Institutional Banking and Treasury Solutions franchises overlap meaningfully with GS's Capital Solutions Group and TxB platform.
• JPMorgan Chase: The largest US bank and GS's most direct bulge bracket competitor across investment banking, trading, and asset/wealth management. JPMorgan's combined commercial banking + Global Banking franchise makes it the principal peer against which GS measures league table position and pricing power.
• UBS Group: Closest European peer across investment banking, FICC/Equities, and wealth management; post-Credit Suisse acquisition, UBS has materially expanded its IB and trading capabilities, making it a direct bulge bracket competitor across all of GS's product lines.
• Morgan Stanley: Closely comparable to GS with a similar combination of institutional securities, M&A advisory, and a top-tier wealth management franchise. Morgan Stanley's Wealth Management segment is structurally similar to GS's PWM + Ayco + Marcus stack.
• Bank of America: Bulge bracket competitor with strong Global Banking and Global Markets operations, plus a large consumer banking deposit base. BofA competes directly with GS in M&A advisory, debt capital markets, and Equities/FICC trading.

Emerging players

• Evercore: Independent advisory firm competing directly with GS in M&A advisory, restructuring, and capital markets advisory. Relevant emerging peer for high-end strategic M&A where independent advice is preferred.
• Jefferies Financial Group: Growing mid-market focused investment bank and trading firm increasingly competing with GS in M&A, leveraged finance, and equities. Jefferies is an emerging player whose mid-market focus complements the bulge bracket model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat8 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/goldman-sachs

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Goldman Sachs & Co. LLC