Goldman Sachs is 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). In 2021 Goldman underwrote two of the largest IPOs in history
and Roblox. This trend continued into 2022 when the bank was the
. Goldman Sachs’ net
activities exceed 7.4 billion U.S. dollars, with the largest share being generated from underwriting.
What does Goldman Sachs do?
In addition to investment banking, Goldman Sachs also has a global markets section, an asset management section, and a consumer and wealth management section. Their clients include corporations, financial institutions, governments, and high-net-worth individuals. Despite being so prominent within investment banking – they are the largest financial advisor to mergers and acquisitions worldwide and one of the
largest underwriters for IPOs – it is not the area that brings the highest net revenues. Out of
Goldman Sachs’ total net revenue of around 47.37 billion U.S. dollars in 2022, 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 a market leader when it comes to investment banking activities, the company is less prominent in other fields of the banking industry. In
overall commercial banking performance, Goldman Sachs ranks only seventh in the United States, below JPMorgan chase (the largest), Bank of America, Citigroup, and Wells Fargo (
commonly known as “the big four”). On a global scale, Goldman Sachs ranks 10th as 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.
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