Samuel Sachs biography

Samuel Sachs

Banker, Deceased Person

1851 – 1935

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Who was Samuel Sachs?

Samuel Sachs was an American investment banker. He was born in the state of Maryland to Jewish immigrants from Bavaria, Germany. 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. He married Louisa Goldman, the youngest daughter of close friends and fellow Bavarian immigrants. 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.

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"Samuel Sachs." Biographies.net. STANDS4 LLC, 2020. Web. 21 Oct. 2020. <https://www.biographies.net/people/en/samuel_sachs>.


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Born
Jul 28, 1851
Maryland
Children
Ethnicity
  • Jewish people
Nationality
  • United States of America
Profession
Lived in
  • Maryland
Died
Mar 2, 1935
New York City

Submitted
on July 23, 2013

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