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Jérôme Kerviel is a French rogue trader who caused a €4.9 billion loss at Société Générale in 2008. He was convicted and imprisoned for breach of trust, forgery and unauthorized use of the bank's computers.
- Who Is Jerome Kerviel?
- Understanding Jerome Kerviel
- Understanding Derivatives
- Kerviel and Unauthorized Trades
- Special Considerations
- Jerome Kerviel FAQs
- The Bottom Line
- GeneratedCaptionsTabForHeroSec
Jerome Kerviel was a junior level derivatives trader for French securities firm Société Générale. He was charged with losing more than €4.9 billion in company assets by conducting a series of unauthorized and false trades between 2006 and early 2008. When company managers discovered that Kerviel had conducted tens of billions of euros worth of unau...
Jerome Kerviel was born on Jan. 11, 1977, growing up in Pont L'Abby, Brittany, France. Kerviel completed a bachelor's degree at the University of Nantes in 1999 and then a master's in finance at the University of Lyon in 2000. Jerome Kerviel joined Société Générale in the summer of 2000 at the age of 23. His first position at the company was in the...
Derivatives are investment instruments that derive their value from another asset, such as the price of corn, a stock, or an index. There are many different kinds of derivatives, such as futures, options, and swaps. To limit risk in derivative trades, a long derivative position is generally offset with a similar short position. For example, if a tr...
With several years' experience in Société Générale's back office, Kerviel was well-versed in the company's policies for approving and regulating trading among its brokers. He took advantage of this knowledge in late 2006 and early 2008 to offset his one-sided bets with the opposite position that did not actually exist by creating fake trades in the...
There are conflicting accounts about Kerviel's talents as a trader and student. Professors at his alma mater, the University of Lyon, are reported to have said that he was a student just like any other.The former governor of the Bank of France described Kerviel as a "computer genius" but colleagues claim that he was not a star trader within their r...
What Does Rogue Trader Mean?
A rogue trader is one who trades on behalf of others; clients or a company, and does so in a reckless manner, often flouting company policy and risk management procedures. The actions a rogue trader takes are usually on a speculative basis involving high-risk securities and significant amounts of capital.
What Is Jerome Kerviel's Net Worth?
Jerome Kerviel does not have a positive net worth. After his sentence, he owed €4.9 billion but this amount was cut to €1 million in 2016. Therefore, he has a negative net worth of approximately 1 million euros.
What Does Jerome Kerviel Do Now?
Jerome Kerviel is currently working as an IT consultant at Lemaire Consultants.
Jerome Kerviel was a trader for the French investment bank, Société Générale, where he made rogue trades using derivatives. His trades resulted in losses of €4.9 billion for the bank. He was sentenced to three years in prison, serving only five months, and was ordered to pay fines totaling €4.9 billion but that was later reduced to €1 million.
Learn about Jerome Kerviel, the former Société Générale trader who lost €4.9 billion by conducting unauthorized and false trades using derivatives. Find out how he was convicted, his net worth, and what he does now.
Jan 29, 2008 · As Jérôme Kerviel continues his extraordinary metamorphosis into what The Times describes as “something of a global folk hero, with songs, videos and internet sites devoted to him,” the ...
- Gwen Robinson
The Jérôme Kerviel case is back in the spotlight with the decision of the Paris Labour Court on 7 June, the civil suit to be heard at the Versailles Court of Appeal from 15 to 17 June and the release of the film, L’Outsider, which is based on Kerviel’s book, on 22 June.
Jérôme Kerviel est un ancien opérateur de marché français, condamné pour avoir perdu 4,9 milliards d'euros à la Société générale en 2008. Découvrez sa vie, sa formation, son procès et ses conséquences sur la banque et la régulation financière.
Ex-Société Générale Trader’s Huge Fine Is Cut to 1 Million Euros. Friday’s ruling was the latest legal victory for the former trader, Jérôme Kerviel, who won a wrongful dismissal suit in ...
Jun 8, 2016 · Jérôme Kerviel persuaded a French labor tribunal that he should not have been fired for his trades, which nearly brought about the demise of the bank.
