Kweku Adoboli, 31 year old ETF trader held over $2bn rogue trade

[THECOLONEL]

Why do never hear of the glory trades? only the shockers?
Call me a Cynic

 

[THECOLONEL]

I think they got his mugshot from facebook- unless its false

 

[stock777]

Quote from canuckrookie:

Have a real hard-on for Barry don't you?

yeah, well, if i wanted to live in a third world country i would have moved to one. dont much like the ghetto coming to me.

 

[Bakinec]

Quote from THECOLONEL:

I think they got his mugshot from facebook- unless its false

it is him...

"son of a retired senior United Nations executive"

http://www.dailymail.co.uk/news/art...ondon-running-1-3bn-losses.html#ixzz1Y5I9l0bt

 

[SteveNYC]

Quote from Gubinec:

it is him...

"son of a retired senior United Nations executive"

http://www.dailymail.co.uk/news/art...ondon-running-1-3bn-losses.html#ixzz1Y5I9l0bt

He looks like a tall version of Arnold Drummond from Diff'rent Strokes.




It Takes Diff'rent Strokes
__

Now, the world don't move to the beat of just one drum,
What might be right for you, may not be right for some.
A man is born, he's a man of means.
Then along come two, they got nothing but their jeans.

But they got, Diff'rent Strokes.
It takes, Diff'rent Strokes.
It takes, Diff'rent Strokes to move the world.

Everybody's got a special kind of story
Everybody finds a way to shine,
It don't matter that you got not alot
So what,
They'll have theirs, and you'll have yours, and I'll have mine.
And together we'll be fine....

Because it takes, Diff'rent Strokes to move the world.
Yes it does.
It takes, Diff'rent Strokes to move the world.

 

[athlonmank8]

Quote from Grandluxe:

Interesting, He is a Ghanian...dont see too many of them around on trading desks.

Extinction?

I guess we now know why

------------------------------

"In other news, UBS announces they'll off-set the loss with a $3 billion gain from their Nigerian scam operations"


On the way out the door, after being handed his $100 weekly paycheck and 2 meal tickets, Adoboli was quoted as saying, "I've done so much for you!"

 

[athlonmank8]

Is this the original?

 

[TraDaToR]

Inter-index spread? The position must have been gigantic.:eek:

 

[Mav88]

Maybe he could try and blame it on a malfunctioning hotkey or something

 

[ASusilovic]

Quote from atticus:

Kweku was a director on a delta1 ETF desk. These guys have no discretion, so it looks pretty open -> shut case. Obviously is speaks more poorly of UBS' internal controls. HTF do you let a guy spreading ETF against index hide these positions?

I know an MBS director at UBS and she's terrified that they're going to shutter a lot of desks because of this news.

How the phuck can a Delta 1 desk trader hide $2 billion in losses? I can only imagine the sudden EUR/CHF cap to have immediate effect on his P/L.

He wrote on Sep 6th: I need a miracle. SNB intervention happened Sep 6th.

On the other hand if Martinghoul is right, how the heck can he lose $2 billion on an inter-index spread?

We are watching inter index spreads all day long. There have been some material discrepancies in the last couple of weeks due to short selling ban in several European countries. So a lot of "tourist players" were active in the German DAX Future. As every decent trader knows, liquidity in German DAX Futures is quite different to liquidity in EuroStoxx, thus exaggerating vola in DAX futures...