Rogue trader to cost SocGen $7bn

Quote from Bitstream:

KERVIEL Jerome
Jeromekerviel@hotmail.com


OBJECTIVE Reach a position as a retail listed derivative products trader, managing a volatility and Delta One book


EDUCATION
MASTERS in Finance (Organisation and Control of financial makets)
University of Lyon, September 2000

Bachelor Degree in Finance
University of Nantes, 1996 1999


WORK EXPERIENCE

Societe Generale S.A., Paris, France
Trader and Market Maker for Delta One Products
March 2004 - Today
Trading : Market making of Listed Delta One products
Including open end and closed end Turbos (Single Stocks, Index, Forex and Rate Futures), ETFs and secondary market for Certificates
ETFs structuration - Management of the collateral with Lyxor Asset Management
Development of managing tools (Excel VBA macro)
New Underlyings Study to develop the product range
Participation to the specification for the implementation of turbos to the Clickoptions platform

Societe Generale S.A., Paris, France
Trader Assistant - Basket Trading and Delta One Products
August 2002 - February 2004
Valuation and Risk Analysis explanation for Basket Trading (Single
Arbitrage book) and Delta One Products
Strategies Backtestings
Short positions hedge
Process automation and managing tools development

Societe Generale S.A., Paris, France
Middle Office - Referential Team
August 2000 - July 2002
Products modeling
Process automation
Excel macro Development for the exotic Desk
Participation to the single referential project


ACTIVITIES
Judo - 8 years practice - Trainer for children
Sailing

SKILLS
English : working language
Microsoft Office Packge - Visual Basic
Licensed for EUREX, XETRA, EURONEXT

http://www.thedeal.com/dealscape/2008/01/sg_traders_resume.php
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What did the shockgen Chairman call him, a computer genius
:confused:

Give me a break.
 
Quote from doublechin:

FRIENDS of rogue trader Jerome Kerviel last night blamed his $7 billion losses on unbearable levels of stress brought on by a punishing 30 hour week.

Kerviel hid his November losses in a batch of wonderfully fresh croissant

Kerviel was known to start work as early as nine in the morning and still be at his desk at five or even five-thirty, often with just an hour and a half for lunch.

One colleague said: 'He was, how you say, une workaholique. I have a family and a mistress so I would leave the office at around 2pm at the latest, if I wasn't on strike.

'But Jerome was tied to that desk. One day I came back to the office at 3pm because I had forgotten my stupid little hat and there he was, fast asleep on the photocopier.

'At first I assumed he had been having sex with it, but then I remembered he had been working for almost six hours.'

As the losses mounted, Kerviel tried to conceal his bad trades by covering them with an intense red wine sauce, later switching to delicate pastry horns.

At one point he managed to dispose of dozens of tranactions by hiding them inside vol-au-vent cases and staging a fake reception.

Last night a spokesman for Sócíété Générálé denied that Kerviel was overworked, insisting he lost the money after betting that the French were about to stop being rude, lazy, arrogant bastards.
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As a frenchman, all I would say is LOL...So true...
 
Quote from letom13eur:

No it's a perfect exemple illustrating how this situation is common in human nature. If you have no limit to your goal you can cheat pretty much anyone no matter what controls you have.
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not only it's not perfect but it's retarded, get real or get a life, what is this shit
 
Is Jerome Kerviel becoming a celebrity?

http://business.timesonline.co.uk/t...ectors/banking_and_finance/article3257468.ece

"Kerviel may have lost his original Facebook friends but he has acquired a peculiar following on the internet. By yesterday afternoon there were 20 Facebook groups dedicated to him. The Jérôme Kerviel Fan Club had more than 700 members. "

"About 10 fake profiles were set up, placing him everywhere from Paris to the Dominican Republic. A separate website, Roguefrenchbanker.com, was registered on Thursday and by yesterday was festooned with advertisements inviting surfers to “try your hand” at stock market trading."
 
So he did nothing wrong. He just applied the rule of 10% cut losses. Even most of us here are not able to apply this rule. So may the lost is widen than this guy if it were in hand of one of ET member. :D

Quote from JSSPMK:

That is interesting, amazing actually.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1767285>
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Quote from turkeyneck:

What if it's the other way round and the guy was up $7bn. Will they let him keep the trade or still turn him in to the police? :D
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that`s the other unusual part to this story as he stood to gain nothing...........as a trader,the first thing you ask is R/R......why risk without reward?
 
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