English name: Jerome Kerviel.
Birth: 1977
Occupation: devil trader at Societe Generale! Huge amount of money fraud!
Achievements: 4.9 billion euros. Societe Generale said that the trader invested in European stock index futures without authorization, resulting in a pre-tax loss of 4.9 billion euros.
Event time: 0 10, 2008 18.
Kerviel graduated from the University of Lyon II in France in 2000 with a master's degree in financial market operation management. Previously, he received a bachelor's degree from the University of Nantes, France. According to one of Kerviel's teachers, Kerviel is an excellent student.
Kerviel works in the Delta One product group of Societe Generale in Paris. The group's business includes programmatic trading, ETF, swap, index and quantitative trading. Kerviel joined Industrial Bank in the summer of 20001and initially worked in the back office management department. He is very familiar with the background management of Industrial Bank, which facilitates him to hide his huge position. Noah, governor of the French central bank, described Kerviel as a "computer genius".
Cowell's annual salary and bonus add up to less than 654.38 million euros. In fact, he can't make money for himself from fraudulent transactions. Kerviel's employer discovered his fraudulent trading position on June 65438+ 10/9, which happened to be the day when the stock index plummeted on June 65438+ 10/October 22. 654381October 22nd, the Federal Reserve cut interest rates by 75 basis points to save the stock market.
65438+1On October 24th, Kerviel's lawyer denied the rumors about Kerviel's intentional disappearance in the morning, claiming that he was still waiting for disposal in Paris. Cowell said that if Industrial Bank had allowed him to execute the last transaction, the disaster could have been avoided. When asked what the last transaction was, Kerviel replied, "Well, shorting the shares of Industrial Bank, of course." Kerviel insisted that he was innocent and wanted to work for Goldman Sachs when it disappeared.
65438+1October 2 1, European stock markets plunged 6%. On the 22nd, the Federal Reserve cut interest rates urgently, which was the time when Societe Generale tried to liquidate all positions established by Kerviel. It is said that the liquidation of Industrial Bank caused chaos in the stock market and triggered the Federal Reserve's interest rate cut. Of course, the Fed obviously didn't know what happened inside Industrial Bank at that time.