- GOLDMAN, family of U.S. investment bankers descended from Bavarian-born MARCUS GOLDMAN (1821–1904) and joseph sachs , both of whom arrived in the United States in 1848. Goldman was a peddler in Pennsylvania and a clothing merchant in Philadelphia before he began his financial career in New York in 1869. Later he was joined by his son, HENRY GOLDMAN (1857–1937), and by Joseph Sachs's sons, SAMUEL SACHS, who married Marcus Goldman's daughter LOUISE, and HARRY SACHS. They formed the banking firm of Goldman, Sachs & Co., which cooperated with the London bankers Kleinwort and Japhet in channeling European capital into U.S. investments. Friendship between Henry Goldman and the lehman Brothers partner, Philip Lehman, engendered joint underwritings for companies engaged in the manufacture and distribution of consumer goods. Henry Goldman, staunchly pro-German in World War I, retired in 1918. Under the guidance of joseph duveen , he assembled an impressive art collection. Only two members of the Sachs family remained in the business as limited partners: Walter Edward Sachs (1884–1980) and Howard Joseph Sachs (1891–1969). -BIBLIOGRAPHY: S. Birmingham, Our Crowd (1967), index; J. Wechsberg, The Merchant Bankers (1966), 285, 303–6; S.N. Behrman, Duveen (Eng., 1951), 286–90. (Hanns G. Reissner)
Encyclopedia Judaica. 1971.