Goldman Sachs Group has dismissed currency trader Frank Cahill over his alleged involvement in the foreign exchange market rigging during his time at HSBC.
Cahill, who joined Goldman Sachs in 2012, is the first trade the firm has suspended related to currency market manipulation probe.
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He was identified internally as among one of the participants in transcripts made public as part of HSBC’s settlement with US and UK regulators.
The suspension order comes a week after regulators hit six banks with $4.3bn in penalty as settlements for failing to prevent traders from rigging the foreign exchange market.
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