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Jerome Kerviel - A Credit Borrower Hero

Guest LAW_*

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History's biggest rogue trader for Societe Generale, Jerome Kerviel, has been placed under official investigation for betting over $7.5 billion, but was allowed to walk free on condition he remained in the country. He faces multiple charges of forgery, computer hacking and breach of trust, but the charge of attempted fraud was not pressed.


“U.S. borrowers, give thanks to an unlikely hero: Jerome Kerviel,” The Globe and Mail’s Boyd Erman wrote. “As you revel in the lower interest charges on your line of credit…think of how one brave Frenchman came to your rescue.”


Jerome Kerviel was able to spook the US Federal Reserve into the biggest rate cut since 1984, possibly and probably helped crash the global markets, and left French president Nicholas Sarkozy with bigger problems than Carla Bruni’s sleeping arrangements.


If found guilty of breach of trust, Kerviel would face a maximum sentence of three years in prison and a fine of 370,000 euros (186,500 US dollars), less than half of what he might have faced if fraud charges had been laid against him.


The 31-year-old trader joined SocGen, France’s second largest bank, in 2000 after completing a business degree at Management des Operations de Marche in Lyon, Bloomberg reported. In 2006, he moved from the bank’s back office to the Delta One trading desk on SocGen’s Paris trading floor, according to the Financial Times.


Jerome Kerviel the son of a hairdresser, wanted to be an "exceptional trader" and earn a bigger bonus but did not try to profit personally from the unauthorised financial deals, according to a French prosecutor.


The trader had bought futures in three European indices -- the Eurostoxx, the DAX in Frankfurt and the FTSE in London -- effectively betting on the future direction of the stock market.



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Guest Helen Thomas

OBJECTIVE Reach a position as a retail listed derivative products

trader, managing a volatility and Delta One book




MASTERS in Finance (Organisation and Control of financial makets)

University of Lyon, September 2000



Bachelor Degree in Finance

University of Nantes, 1996 1999






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


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




Judo - 8 years practice - Trainer for children





English : working language

Microsoft Office Packge - Visual Basic





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