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had some reservations about placing Levy in charge but ultimately decided to appoint Levy as chief executive officer. He also introduced an eight-man "management committee" system (filled with seven older, experienced senior banking partners) acting as a corporate board alongside Levy. Within the
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During Levy's tenure as managing partner from 1969 to 1976, Goldman Sachs experienced substantial growth. The firm also weathered some major controversies, such as the
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bankruptcy and commercial paper scandal. The Penn
Central debacle tarnished the firm's reputation, costing Goldman millions of dollars in litigation and settlements.
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in 1933 to head the one-man trading department for a salary of $ 27.50 a week. He remained at
Goldman Sachs for the rest of his career.
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before dropping out. He moved to New York City, working various jobs in the financial sector, then joined
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during a Port
Authority of New York commissioners meeting in October 1976. He fell into a
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firm, Levy was known for his manifest energy, short temper, intelligence, and generosity.
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242:(Seventh ed.). Richmond, Virginia: Federal Reserve Bank of Richmond. Archived from
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136:. He was one of three children of Sigmund and Bella Levy. Levy briefly attended
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Between 1933 and 1969, Levy headed
Goldman Sachs' trading department. Levy and
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266:"Gustave L. Levy, Memorabilia, Awards, 1956-1976 | Icahn School of Medicine"
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This article about an
American businessperson born in the 1910s is a
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112:(May 23, 1910– November 3, 1976) was Senior Partner at
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pioneered the developed of trading strategies such as
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175:Levy was chairman of Goldman Sachs until he had a
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116:from 1969 until his death in 1976. He succeeded
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187:at the age of 66. Levy was succeeded by
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432:20th-century American businesspeople
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128:Levy was born on May 23, 1910, to a
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422:Businesspeople from New Orleans
236:Instruments of the Money Market
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213:"The Goldman Sachs Group Inc"
350:. You can help Knowledge by
120:as chief executive officer.
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427:20th-century American Jews
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195:(son of Sidney Weinberg).
412:American chief executives
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264:Webb, Nicholas (2011).
53:New Orleans, Louisiana
417:Goldman Sachs people
185:Mount Sinai Hospital
290:Business positions
228:"Commercial Paper"
72:New York, New York
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319:John C. Whitehead
316:Succeeded by
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84:Investment banker
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323:John L. Weinberg
295:Preceded by
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64:November 3, 1976
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183:and died at
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66:(1976-11-03)
49:May 23, 1910
39:Gustave Levy
402:1910 births
397:1976 deaths
275:15 December
134:New Orleans
391:Categories
313:1969–1976
250:2007-01-17
199:References
132:family in
124:Early life
80:Occupation
45:1910-05-23
305:Chairman
90:Employer
20:Gus Levy
102:Gustave
177:stroke
148:Career
130:Jewish
74:, U.S.
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240:(PDF)
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321:and
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191:and
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110:Levy
61:Died
35:Born
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Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
