Samuel Sachs was an American

United States

The United States of America is a federal constitutional republic comprising fifty states and a federal district...

 investment banker

Investment banking

An investment bank is a financial institution that assists individuals, corporations and governments in raising capital by underwriting and/or acting as the client's agent in the issuance of securities...

. He was born in the state of Maryland

Maryland

Maryland is a U.S. state located in the Mid Atlantic region of the United States, bordering Virginia, West Virginia, and the District of Columbia to its south and west; Pennsylvania to its north; and Delaware to its east...

 to Jewish immigrants from Bavaria

Bavaria

Bavaria, formally the Free State of Bavaria is a state of Germany, located in the southeast of Germany. With an area of , it is the largest state by area, forming almost 20% of the total land area of Germany...

, Germany

Germany

Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...

. Sachs, along with his longtime friend Philip Lehman

Philip Lehman

Philip Lehman was a Jewish-American investment banker. Born in New York City to Emanuel and Pauline , his father, was a co-founder of investment bank, Lehman Brothers. Philip became a partner in the family-owned firm in 1887 and was the firm's managing partner from 1901 to 1925...

 of Lehman Brothers

Lehman Brothers

Lehman Brothers Holdings Inc. was a global financial services firm. Before declaring bankruptcy in 2008, Lehman was the fourth largest investment bank in the USA , doing business in investment banking, equity and fixed-income sales and trading Lehman Brothers Holdings Inc. (former NYSE ticker...

, 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

Father-in-law

A parent-in-law is a person who has a legal affinity with another by being the parent of the other's spouse. Many cultures and legal systems impose duties and responsibilities on persons connected by this relationship...

 Marcus Goldman's

Marcus Goldman

Marcus Goldman was a German-born American businessman and entrepreneur. He was born in Trappstadt, Germany and emigrated to the United States in 1848...

 firm which prompted the name change to Goldman Sachs

Goldman Sachs

The Goldman Sachs Group, Inc. is an American multinational bulge bracket investment banking and securities firm that engages in global investment banking, securities, investment management, and other financial services primarily with institutional clients...

 in 1904. Together they underwrote securities offerings for such large firms as Sears, Roebuck and Company

Sears, Roebuck and Company

Sears, officially named Sears, Roebuck and Co., is an American chain of department stores which was founded by Richard Warren Sears and Alvah Curtis Roebuck in the late 19th century...

. 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.