Jerome Kerviel |
Wiki |
Jérôme Kerviel (born January 11, 1977) is a French trader who has been charged in the January 2008 Société Générale trading loss incident, resulting in losses valued at approximately €4.9 billion. Société Générale characterises Kerviel as a rogue trader and claims Kerviel worked these trades alone, and without its authorization. Kerviel, in turn, told investigators that such practices are widespread and that getting a profit makes the hierarchy turn a blind eye. Until the discovery of fraud perpetrated by Bernard Madoff, it was reported to be the largest fraud in banking history.
Jérôme Kerviel grew up in Pont-l'Abbé, Brittany. His mother, Marie José, is a retired hairdresser and his father, Charles, who died in 2006, was a blacksmith. Kerviel is married, but he and his wife recently separated.
He graduated in 2000 from University Lumière Lyon 2 with a Masters in Finance specializing in organization and control of financial markets. The university's financial program, which was initiated in the 1990s with the support of France's larger banks, was intended to prepare students for middle and back-office positions in the trading departments of financial institutions. Prior to that he received a bachelor degree in Finance from the University of Nantes.