SocGen Exclusive - First Pictures Of Risk Team

Some of SocGen's risk team have been told to get on their bikes following the discovery of that $7.1bn rogue trading loss last week. Here's an exclusive picture of the team leaving the office for the last time (in the box to the right). (Apologises to SG, but we couldn't resist).

And The Evening Standard's City Spy column had a great quote from an unnamed banker who sums up the way many market professionals feel on the subject of the SG trading losses:

'For years, they've (SocGen) been banging on about how amazing their derivatives systems are, and how their risk analysis kit is far and away the best there is. We're not anti-French, we're just anti-SocGen', said the 'sniggering' banker.

Memo From The Chairman To All Risk Management Staff