The trader, who joined the US firm in London in 2012, was identified internally as one participant in transcripts made public as part of HSBC’s settlement with US and UK regulators, the news service said. Cahill is the first trader Goldman Sachs has dismissed related to currency-market investigations, it said.

In a statement, Goldman Sachs told Family Wealth Report: “This relates to a period before he joined Goldman Sachs, and he has now left the firm.”

HSBC has agreed to pay $618 million as part of $4.3 billion in settlements between six banks and four regulators connected with investigations into the rigging of foreign exchange benchmarks, a saga that comes on top of punishments of some firms over the Libor-related rigging cases of the past two years.

Investigations into these forex-rigging issues are still under way.

The news report said the Wall Street Journal, which reported his dismissal initially yesterday, said he declined to comment.