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Privately, trading executives often knew far more about the perils than they let on.
He hired veteran trading executives from Prudential Securities, J. P. Morgan Chase, Goldman ,Sachs and UBS PaineWebber.
Major foreign exchange houses in the United Arab Emirates have stopped handling the Iranian currency, the rial, over the last several weeks because of the risk, Reuters reported Thursday, quoting trading executives there, putting further pressure on the currency, which has declined by about 50 percent in the last year.
Goldman, the most profitable investment bank in Wall Street history, filled its top ranks with former trading executives in June when Mr. Blankfein succeeded Henry M. Paulson Jr. as chief; Mr. Blankfein named Mr. Cohn and Mr. Winkelried as his deputies.
Prosecutors have accused Mr. O'Connell and other former stockbrokers who worked at Merrill, Citigroup and Lehman Brothers of scheming with day trading executives at the defunct broker-dealer A. B. Watley to profit improperly by hearing squawk boxes over the phone.
Many trading executives, such as F. James Claire at First Capital Group, a unit of First Union in Charlotte, North Carolina, won't switch.
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Rajeev Misra, a former debt trading executive at Deutsche Bank, gave the Conservatives £50,000 last year.
Among them were David A. Viniar, the chief financial officer; Gary D. Cohn, then the co-president; and Pablo Salame, a sales and trading executive, these former employees said.
Ms. Koike, the daughter of an oil trading executive who traveled frequently to the Middle East as a child, studied Arabic and sociology at Cairo University in Egypt.
He said he did not expect that the promotion of a longtime trading executive would lead Goldman to take more risk because "the trading and risk-taking are already substantial".
Cultures in The City and Wall Street are "more similar than they are different; they're equally brutal on both sides of the Atlantic," said a bond trading executive at a major American investment bank in London.
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