Samuel Sachs

Samuel Sachs ( ; July 28, 1851 – March 2, 1935) was an American investment banker. He is most known for co-founding Goldman Sachs along with Marcus Goldman. He is noted for changing the nature of merchant banking by underwriting of the stock issuance to raise funds for new corporate entities (i.e., initial public offering).

Early life Samuel Sachs was born on July 28, 1851, in Maryland, the son of Sophie (née Baer) and Joseph Sachs, both Jewish immigrants from Bavaria, Germany. The family fled Germany to avoid the crises in the country that led to the revolutions of 1848. This allowed investors to capyilatize on their innovations.

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.

Philanthropy Sachs donated US$50,000 (equivalent to $ in ) to Harvard University in 1924.

Personal life and death Sachs married Louisa Goldman, the youngest daughter of Marcus Goldman, also German Jewish immigrant. They resided at The Pierre.