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He rose through the ranks and in 2006 landed on the exchange-traded funds and Delta One trading desk.
That inflated asset prices and trading desk profits.
But its most important asset will be its trading desk.
Half the foreign exchange trading desk is gone.
Later, he joined the proprietary trading desk, making bets with Goldman's own money.
It had a stock and bond trading desk and was expanding into investment banking.
A firm's proprietary trading desk executes trades solely for the benefit of the firm.
Bloomberg News earlier reported the closing of the proprietary trading desk.
"He was on the trading desk and said he'd call me back," Mr. Duff said.
The securities were sold to UBS's short-term trading desk, which Mr. Shulman oversaw.
A report by PricewaterhouseCoopers blamed the "culture" at the Delta One trading desk, describing an "overheated" trading desk whose activities got out of hand.
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