Marcus Goldman and Samuel Sachs were Jewish American businessmen and financiers who founded Goldman Sachs, one of the world's largest investment banks.
Goldman was a German-Jewish immigrant businessman. He was born in what is now Germany and immigrated to the United States in 1848. He was one of the original founders of Goldman Sachs, which today is one of the world's largest global investment banks. Goldman pioneered the use of commercial paper transactions, making them quicker and more efficient. Though the bank stayed small during Goldman’s lifetime, the foundation was set to turn Goldman Sachs into the powerhouse it would become. When Goldman retired in 1894, at the age of 73, he left the company in the hands of Samuel Sachs, his son-in-law.
Sachs was born in Maryland to Jewish immigrants from Bavaria. Sachs pioneered the issuing of stock as a way for new companies to raise funds. Goldman Sachs began to underwrite 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.