Goldman’s share price jumped nearly 4.3 percent on hopes that Mr. Blankfein and his bank had, in a stroke, put one of the most embarrassing episodes in the bank’s recent history behind them.

The news that Goldman Sachs had struck a deal was viewed by many on Wall Street as a something of a victory for Mr. Blankfein.

Only weeks ago, as Goldman’s negotiations with federal authorities dragged on and the bad publicity mounted, some speculated that Mr. Blankfein might lose his grip on Goldman.

Instead, Mr. Blankfein will, at least for now, remain both chairman and chief executive of the bank, the most profitable in Wall Street history. Some had speculated the legal dustup would at least cost him the chairmanship.

Indeed, the settlement, while one of the largest in financial history, was half the size that many analysts had originally predicted. It represents a mere 15 days of profits, based on Goldman’s 2009 earnings.

Whether Goldman will ultimately change senior management in light of the humbling settlement is uncertain. But few inside or outside Goldman see an immediate threat to Mr. Blankfein, who, for many Americans, has become the public face of Wall Street excess.

Mr. Blankfein’s remarkable and controversial success in guiding Goldman through the financial crisis, punctuated by his claims that Goldman was doing “God’s work,” made him an object of public scorn. But on Wall Street, where money is the ultimate measure, he seems to have delivered once again.