Salomon's head of trading, Terry Fitzgerald, said the entire offer was sold in two hours.

"People used to be afraid to put Drexel on their resume," said Edwin Kantor, the firm's former head of trading and a director.

But to free himself from the trading desk, Lewie needed to find a "head of trading."

There was still a perceived need for a head of trading.

Outsiders have questioned the supervisory role played by Mr. Cerullo, the head of fixed-income trading.

In 1990 Mr. Skilling joined Enron as head of trading.

Or he will walk over to joke with his brother Nick, who took over their father's job as head of over-the-counter trading at Piper.

Mr. Keegan was appointed head of proprietary trading in April.

For many years, he was head of trading and has served on its board for 15 years.

By 2002 he was head of all sales and trading.