Samuel Sachs

Samuel Sachs
Born	July 28, 1851 Maryland
Died	March 2, 1935 (aged 83) New York City
Occupation	Investment banker
Known for	Name partner of Goldman Sachs
Spouse(s)	Louisa Goldman (m. 1882)[1]
Children	Paul J. Sachs (1878–1965) Walter E. Sachs (1884–1980)

Samuel Sachs (/zɑːks/; July 28, 1851 – March 2, 1935) was an American investment banker.

Early life

He was born in the state of Maryland to Jewish immigrants from Bavaria, Germany. He married Louisa Goldman, the youngest daughter of close friends and fellow Bavarian immigrants.^[2]

Career

Sachs, along with his longtime friend Philip Lehman of Lehman Brothers, pioneered the issuing of stock as a way for new companies to raise funds. Sachs then joined his father-in-law Marcus Goldman's firm which prompted the name change to Goldman Sachs in 1904. Together they underwrote securities offerings for such large firms as Sears, Roebuck and Company. During this time Goldman Sachs also diversified to become involved in other major securities markets, like the over-the-counter, bond, and convertibles markets which are still a big part of the company's revenue today. Sachs retired in 1928 and died in 1935.

See also

• Goldman–Sachs family

Notes

1. McCraw, Thomas K. (2010). "Immigrant Entrepreneurs in U.S. Financial History, 1775–1914". Capitalism and Society 5 (1): Article 3. doi:10.2202/1932-0213.1070. SSRN 2208682.
2. Kappner, Cordula (2008-03-12). "Marcus Goldmann und der amerikanische Traum". Mainpost (in German).