Goldman Sachs

The Goldman Sachs Group, Inc., is an American multinational investment bank and financial services company headquartered in New York City. It offers services in investment management, securities, asset management, prime brokerage, and securities underwriting. The bank is one of the largest investment banking enterprises in the world, and is a primary dealer in the United States Treasury security market and more generally, a prominent market maker. The bank also owns Goldman Sachs Bank USA, a direct bank.

Goldman Sachs was founded in 1869 and is headquartered at 200 West Street in Lower Manhattan with additional offices in other international financial centers. As a result of its involvement in securitization during the subprime mortgage crisis, Goldman Sachs suffered during the financial crisis of 2007-2008, and received a $10 billion investment from the United States Department of the Treasury as part of the Troubled Asset Relief Program, a financial bailout created by the Emergency Economic Stabilization Act of 2008. The investment was made in November 2008 and was repaid in June 2009.

Former employees of Goldman Sachs have moved on to government positions. Notable examples includes former U.S. Secretaries of the Treasury Robert Rubin and Henry Paulson; current United States Secretary of the Treasury Steven Mnuchin; former Under Secretary of State John C. Whitehead; former chief economic advisor Gary Cohn; European Central Bank President Mario Draghi; former Bank of Canada Governor and current Governor of the Bank of England Mark Carney and the former Prime Minister of Australia Malcolm Turnbull. In addition, former Goldman employees have headed the New York Stock Exchange, the World Bank, and competing banks such as Citigroup and Merrill Lynch. The company is ranked 70th on the Fortune 500 list of the largest United States corporations by total revenue.

In 2019, Goldman Sachs also announced the migration of the on-premise Kubernetes cluster the company has used to a private instances on Amazon Web Services for a cloud native development.

During 2017, Goldman Sachs wanted to start modernizing their software development lifecycle. They selected GitLab as their new SDLC tool. Through the company's integration of GitLab, Goldman Sachs's engineering team was able to self-serve daily builds and move production schedules onto a daily basis. This was achieved through the use of GitLab for a complete ecosystem for development, source code control, reviews, builds and testing, and production deployments. After the initial success, Goldman Sachs tied their software platforms into GitLab. The software platforms Goldman Sachs develops includes low latency infrastructure solutions, cyber security applications, and machine learning platforms for financial engineering.

Zephyr, one of Goldman Sachs's in-house software platforms, allows bankers to use the application in order to run real-time customized analyses of different debt structures.

The company also offer StrategyStudio, which allows clients to build and analyze a custom investment strategy using indices and customized Goldman Sachs equities and fixed income baskets.

Both of these applications were created on Goldman Sachs's Marquee platform, which uses machine learning and artificial intelligence to help their financial engineers and data scientists to develop these financial applications.

Another of Goldman Sachs's software platforms is SecDB, an analytics database that tracks and manages risk and calculates $23 billion prices daily among 2.8 million positions and 500,000 market scenarios. Goldman Sachs has been offered $1 billion to license their SecDB platform, which they turned down. SecDB is run on its own programming language Slang, similar to Java or Python, which was developed by Goldman Sachs engineering teams.

In November, 2019, Goldman Sachs decided to make one of the company's software platforms, Alloy, and the platform's underlying language, for free as open-source software in collaboration with a nonprofit called Finos. Alloy, the platform, accesses and analyses financial databases and was initially developed to deal with the rapid development of databases at Goldman Sachs, which were being built by different teams and using different software vendors. Alloy allows users to grab data and map various relationships across these various databases. Goldman's decision to make Alloy open-source is to help reduce costs when dealing with trading counterparties among banks and asset managers and compliance requests from regulators.