Kevin JohnsonThe Goldman Sachs Group, Inc. is one of Wall Street’s leading and most prestigious investment banks, performing operations since 1869.
This global securities and investment banking firm provides top-notch investing, financing, and advisory services to clients, from corporations and financial institutions to high-net-worth individuals and governments.
Widely known as one of the largest and oldest investment banks, Goldman Sachs is based in New York with offices in almost all major financial centers worldwide, including London, Tokyo, Hong Kong, Frankfurt, and more.
It boasts a workforce of over 42,000 employees and a satisfied customer base exceeding 3 million, with a total revenue of $47.37 billion in 2022 [1].
However, there are many other major players in the investment banking industry. These several other alternatives to Goldman Sachs can help you achieve funding goals for your organization.
This article will walk you through 10 Goldman Sachs competitors and market peers:
1. JPMorgan Chase & Co.
Year founded: 1871
Headquarter: New York, United States
With roots stretching back to 1799, JPMorgan Chase & Co. is one of the most well-known and oldest investment banking firms worldwide. It was created in 2000 through a merger between JP Morgan and Chase Manhattan Corporation [2].
The JPMorgan division of the firm handles investment banking, private banking, private wealth management, and asset management, whereas the Chase side manages credit care services within Canada and the US [3].
The company has over 293,000 employees and a net revenue of $154.79 billion in 2022 [4]. JPMorgan Chase serves more than 5 million small businesses and 66 million households, making it one of the top competitors of Goldman Sachs.
2. Deutsche Bank
Year founded: 1870
Headquarter: Frankfurt, Germany
Deutsche Bank AG is a multinational financial services provider that offers commercial, investment, retail, and private banking services.
The bank provides a diverse range of services, including debt, derivatives, foreign exchange, commodities, repo and securitization, and money markets. The services also include cash equities, prime equity services, research, loans, advice on M&A and IPOs, convertibles, trade finance, asset management, retail banking, and corporate investments [5].
This company was founded in 1870 and currently generates total revenue of $39.9 billion, with gross profits of $28.7 billion [6]. Additionally, it has a large workforce of over 65,000 employees who serve customers in more than 74 countries [7].
3. Credit Suisse
Year founded: 1856
Headquarter: Zurich, Switzerland
Credit Suisse Group is a major global financial services provider specializing in private banking, asset management, and investment banking. Established in 1856, the company opened its first international branch in New York in 1942 [8].
The company serves its clients through four primary divisions: Wealth Management, Asset Management, Investment Bank, and Swiss Bank. Their global divisions are operational in Switzerland, EMEA, APAC, and the Americas.
The firm operates successfully in around 50 countries and has over 50,000 employees, with a net revenue of $30.1 billion [9].
4. Morgan Stanley
Year founded: 1935
Headquarter: New York, United States
Established in 1935 and headquartered in New York, Morgan Stanley is a worldwide financial services firm offering investment banking services and products. The clients and customers of the business include corporations, financial institutions, governments, and individuals [10].
The company operates through three primary business segments: Wealth Management (investment and brokerage advisory services), Investment Management (equity, real estate, merchant banking, fixed income, and alternative business strategies), and Institutional Securities.
Institutional Securities is the firm’s biggest moneymaker among the three. The segment reported net revenue of over $24.4 billion in the fiscal year 2022 [11].
With over 60,000 employees and 3.5 million households as wealth clients, the company has a total revenue of $59.8 billion [12].
5. Jefferies Group
Year founded: 1962
Headquarter: New York, United States
Jefferies Financial Group – popularly called Jefferies – is an independent investment banking and securities firm headquartered in New York, United States of America.
Established over half a century ago, the company now employs over 4,800 individuals in more than 30 cities worldwide and has a total revenue of almost $6 billion [13].
Jefferies operates via five key business units: investment banking, research, sales and trading, wealth management, and asset management [14], making it a leading competitor of Goldman Sachs.
6. BlackRock
Year founded: 1988
Headquarter: New York, United States
Founded in 1988, BlackRock is an American multinational investment firm that offers various services like advisory, risk management, and investment.
With over 18,000 employees working worldwide and a staggering $18 billion in revenue, the company caters to non-profits and governments, helping them achieve their financial goals and manage risks effectively [15].
Overall, BlackRock is the world’s biggest money manager, with a remarkable $10 trillion in assets under its supervision [16].
7. Wells Fargo
Year founded: 1852
Headquarter: San Franciso, United States
Wells Fargo is part of the coveted “Big Four Banks” group in the United States, with over 7,100 branches and consolidated assets worth $1.8 trillion [17].
Founded in 1852, Wells Fargo employs more than 218,000 employees and offers a diverse range of services, including retail and commercial banking and asset and wealth management [18].
The company has a massive customer base of over 70 million, and its operations span more than 8,700 locations [19]. The bank’s total revenue is $82.8 billion, and it is a significant competitor of Goldman Sachs.
8. Citigroup Inc
Year founded: 1998
Headquarter: New York, United States
Established in 1998, Citigroup is a holding company that owns numerous subsidiaries, including Citibank and Citicorp.
As a global investment bank, Citigroup has over $2.4 trillion in total assets and over 4,000 branches spanning 39 countries [20].
With more than 220,000 employees and a revenue of $79.9 billion in 2022, Citigroup is a renowned investment firm that offers financial products and related services to a wide range of clients, such as individuals, governments, institutions, and corporations [21].
9. BNP Paribas SA
Year founded: 1822
Headquarter: Paris, France
With roots dating back to 1822, BNP Paribas was formed “officially” as a result of a merger between Paribas (a global investment bank) and BNP (a leading deposit bank in France).
BNP Paribas SA is a leading firm that provides financial and baking services. It conducts its operations via two main segments: Corporate Institutional Banking and Retail Banking and Services.
The company assists a wide variety of clients, such as individuals, entrepreneurs, corporates, institutional clients, SMEs, and community associates, to help achieve their projects via solutions spanning savings, protection insurance investment, and financing.
With a global presence across over 70 countries, BNP Paribas serves more than 30 million customers and employs a workforce of 190,000 individuals. It reported a total revenue of $68.1 billion in 2022 [22].
10. Evercore
Year founded: 1995
Headquarter: New York, United States
Evercore Group LLC is one of the best independent investment banks providing strategic advisory, trust, and wealth management services.
Established in 1995, the company provides mergers and acquisitions, restructurings and divestitures, public offerings, financings, private placements, trading execution, investment management, and research services [23].
With over 2,000 employees and $2.8 billion in annual revenue, the company serves clients across the world [24].
Bottom Line
Goldman Sach is a major global investment management, securities, and banking firm that provides sustainable financial and economic growth opportunities to a global clientele.
However, it’s not your only option. You can leverage any of these ten best alternatives to Goldman Sachs to raise capital and meet other business requirements and goals.
References & more information
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