SG Denies Rogue Trader Under Stress From Working 30 Hour Week
More in BUSINESS NEWS
back-up- Click Here To Register For Free News E-Mail Alerts
- The 2008 Best CTO / CIO Poll - Last Week
- 'I Am Bonus' - A Necessity For Naturally Indolent People
- It Could Be Worse - You Could Be In Recruitment
- The Best Firms For Graduate Recruitment & Development Are
- BofA, Lehman, Merrill, Morgan Stanley, UBS, Hank Paulson, AIG
- Funny Caption Competition
- Wachovia Staff Memo On Confirmation Of Wells Fargo Deal
- Credit Suisse, RBS, SocGen, Dexia, Kaupthing
- Global Debt & Equity League Tables - Year To Date
- Staff From 16 Firms Already Nominated For 'Rising Stars'
- Featured Recruiter - Martin Ward Anderson
- 'There Was Nothing Special About Our Firm' - Letter From A Lehman Staffer
- Firm Said To Be Cutting 20% Of Investment Banking Staff
- Pandit Does His 'Nut'
- Roll Up For A Session Of 'Bailout Bingo'
- 'On Top Of Everything Else, Now I'll Get No Severance'
- UK Treasury Statement On Bank Financial Support Plan
- Layoffs - The Definitive Job Loss League Table (The Very Latest)
- 'Their Staff...Were Making A Lot More (Than Ours). That Won't Last'
- The So-Called 'Greedy' Lehman Bonus E-Mail
- CenterFuld - Lehman Boss In The Dock
- M&A - Top Dogs Around The World
- An Oldie, But Goodie During These Difficult Times
- Richard Fuld's Statement To The Congressional Committee (In Full)
- Citi Sues Over Wachovia - For $60bn!
- Fear Not, There Are Jobs Out There
- If Your Firm Was A Monopoly Property.....
- 'Never Mind Your Bonus' - The First Here Is The City Book
- Top Firm Accused Of Bringing Down Lehman
- Top Boss Says Bonuses Will Be 'Solid', But 'Smaller'
- Hedge Fund Makes Single $2.5bn Winning Trade
- 'This Was As Cogent A Case Of Murder As Might Be Imagined'
- 'This Hodge-Podge Of Regulations...(Will) Put Many (Banks) Off Participating'
- Wacha-Gotcha-Notcha-ovia - Bun Fight For Wachovia
- Top Worldwide M&A Legal Advisors - Year To Date
- Citigroup Threatens Legal Action Over Wachovia (Citi Statement)
- Wells Fargo Press Release On The Wachovia 'Acquisition'
- Out Of A Job, Out Of Pocket & Out For Blood
- 'In The Land Of The Laid-Off, The Hiring Firm Is King'
- UBS Confirms 2,000 Job Losses / Closure Of Commodities Unit
- A Wall Street Funny
- Worldwide M&A League Table - Year To Date
- Super Hedge Fund Manager Continues To Defy The Odds
- Fuld, Thain, BNP, SocGen, Morgan Stanley, Raymond James, Shorts
- 'My Firm Will Never Fire Me. I'm Untouchable!'
- 'I Felt Sick When I Saw Them Taking Down The Lehman Signage'
- More Writedowns Expected, Hedge Funds Suffer
- 'We Need A Reality Check'
- 'There Is Only One End To The World, And This Isn't It'
Related Content
- Report Concludes Rogue Trader Fooled Superiors (02/08/2008)
- Trader Fired Over His 'Saucy' Website (10/08/2008)
- Trader Gets $300m To Stay With Firm (12/08/2008)
- Trader Monthly's Top 30 Traders Under 30 (07/09/2008)
- Staying Put After Accepting Job Offer Will Cost Trader $1.4m (01/08/2008)
- What A Week - A Big 'Thank You' To All Our Readers (20/09/2008)
'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 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'd 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 transactions 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'.
Source - www.thedailymash.co.uk
