Samuel Sachs

Samuel Sachs
Born	Maryland, United States
Died	2 March 1935(1935-03-02) (aged 83) New York City, United States
Occupation	Investment banker
Known for	Co-founding Goldman Sachs
Notable work	Facilitating capital generation through underwriting public offerings

Samuel Sachs (; born July 28, 1851 – died March 2, 1935) was a prominent American investment banker recognized primarily for co-establishing Goldman Sachs alongside Marcus Goldman. He played a key role in revolutionizing merchant banking by facilitating capital generation through underwriting the public offerings of leading corporations.

Early life

Sachs was born on July 28, 1851, in Maryland to Sophie (née Baer) and Joseph Sachs, Jewish immigrants who originated from Bavaria and emigrated prior to the 1848 German revolutions. He was one of five children, including an elder brother, Julius Sachs, and younger siblings such as Bernard Sachs.

Career

Together with his longtime partner Philip Lehman of Lehman Brothers, Sachs was instrumental in advancing stock issuance as a method for raising corporate capital. Upon joining Marcus Goldman's business, his father-in-law’s firm was renamed Goldman Sachs in 1904. The company underwrote securities for prominent clients like Sears, Roebuck and Company and broadened its operations into vital sectors including over-the-counter trading, bonds, and convertible securities—areas that continue to be fundamental to Goldman Sachs’ earnings. Sachs stepped down from his professional role in 1928.

Philanthropy

In 1924, Sachs contributed $50,000 to Harvard University.

Personal life and death

He married Louisa Goldman, the youngest daughter of Bavarian Jewish immigrant Marcus Goldman. The couple resided at The Pierre and had four children: Paul Joseph Sachs, Arthur Sachs, Walter Edward Sachs, and Ella S. Sachs.

Samuel Sachs passed away on March 2, 1935, in New York City.

See also

• Goldman–Sachs family