Abstract

Goldman Sachs, one of Wall Street's oldest and most well-known investment banks, offers a wide range of investment banking, asset management, and clearing services to individual, corporate, and government clients. Goldman has established an excellent reputation over the years. The company has shaped a culture that subordinates individual success to teamwork. However, Goldman's revenue model is not clear to many investors. Goldman has also been accused of giving special initial public offering allocations to key clients, in lieu of their investment banking business. Investors are also concerned that Goldman's value-at- risk, the principal tool used by Goldman to measure market risk, has almost tripled in the last three years.

Learning Objectives

The case is structured to achieve the following Learning Objectives:

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Keywords

Goldman Sachs, Investment banks, Marcus Goldman, Trading and principal investments, Asset management, Securities services, Institutional investment management, Merchant banking, Financial institutions, Corporations