Top Goldman Sachs Competitors
Goldman Sachs is one of the leading investment banking service providers in the world today. It is an investment and securities management firm, that provides an extensive range of financial services and solutions, including, securities underwriting, prime brokerage, and asset management.
The client base of the company is quite diversified and large, and it includes several leading corporations of the world and even governments.
In spite, of the prowess that Goldman Sachs as an institution has been able to show in the global financial markets, there are numerous Goldman Sachs competitors that you ought to be aware of, to know exactly what this enterprise is up against, in terms of business rivalry.
TOP GOLDMAN SACHS COMPETITORS
JP Morgan Chase
JP Morgan is an investment banking company that has a multinational outreach, and which has its headquarters in the USA. It is regarded as one of the most significant Goldman Sachs competitors in the world today.
Known officially as JP Morgan Chase & Company, the enterprise is based in New York City, and is famous for providing top notch financial services and investment banking consultation and facilities for its clients worldwide.
Private banking, asset management, wealth management, investment banking, and treasury service are some examples of the many different services that are provided by this global enterprise.
Retail banking facilities and credit card facilities are some of the key service areas that the company has come to be known for, over the years.
The company officially came into existence in the year 2000, and the net revenue of the company as of the year 2020, amounted to $ 19.54 billion.
In spite, of the excellence that the company has been able to demonstrate in the rendition of financial services, the company has also courted a significant amount of controversy from the time of its inception.
The Enron scandal, the WorldCom scandal, and the scandal in Jefferson County, Alabama are some of the many scandals that the company has been involved in, but which has not taken away anything from the prominence that this company holds in the global financial sector today.
Morgan Stanley is one of the Goldman Sachs competitors that you should also know about, given that this is a multinational enterprise offering investment banking services that is also located in the USA, like Goldman Sachs and like JP Morgan Chase and which has made a name for itself because of the diverse range of its financial services.
The company was founded officially by Henry Morgan and Harold Stanley in 1935. The client base of the enterprise is one that is comprised of governments, corporations, individuals, and institutions.
The revenue of the company amounted to $ 48.2 billion as of the year of 2020. Examples of the services offered by Morgan Stanley, are, trading and sales services, investment banking service, investment management, wealth management, asset management, prime brokerage, and commodities.
Morgan Stanley is an enterprise that has been associated with several lawsuits, in the years between 2000 and 2020.
However, it has managed to come out most of the litigation issues that it has been faced with, unscathed and is regarded as one of the top-ranking financial firms in the world, giving Goldman Sachs a considerable degree of competition in the global financial sector.
When talking about the top Goldman Sachs competitors, mention must also be made of Merrill Lynch, which is a financial services firm that has an expansive global outreach, and which forms a division or part of the famous Bank of America.
It was in the year of 1914 that Merrill Lynch came into existence as an enterprise that was to offer wealth management as well as investment banking services exclusively for a target audience within the USA.
Over the years, the company is one that has come to expand globally, and is today, quite well-known, for what may be termed as prime brokerage services and various types of broker-dealer activities.
Merrill Lynch has its headquartered in none other than the city of New York. The company has been faced with a number, of regulatory actions, such as the Orange County Settlement, which took place in 1998 and the Analyst Research Settlement which took place in 2002, among many others.
Despite, such controversies, Merrill Lynch is one of the top competitors for Goldman Sachs, by virtue of the diverse range, as well as a proficient rendition of financial and wealth management services that it provides for an elite and esteemed target audience in different parts of the world.
Another one of the top Goldman Sachs competitors that is worth knowing about is Edward Jones. Based in St Louis in the state of Missouri in the USA, and founded in the year of 1922, Edward Jones is an enterprise that is famous for its financial services, with the company serving clients in both Canada and the USA.
The company offers financial products and services in more than 15,000 locations and is serviced by 19,000 or more financial advisors. The annual revenue of the company amounted to $ 8.594 billion as of the year of 2019.
This is an enterprise that has steered clear of controversy for the most part of its existence.
Thus, there are many Goldman Sachs competitors that you ought to be aware of if you truly wish to understand the extent of the competition that this global financial services firm faces, and which it has, to overcome, to reach a top position in the international financial services sector, today.
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