Jérôme Kerviel
| Jérôme Kerviel | |
|---|---|
| Born |
11 January 1977 Pont-l'Abbé, Finistère, France |
| Nationality | France |
| Education | Master's degree in Finance |
| Alma mater |
Lumière University Lyon 2 University of Nantes |
| Occupation | Trader, consultant |
| Employer |
Société Générale (formerly) Lemaire Consultants (currently) |
| Known for | Rogue trading |
| Home town | Pont-l'Abbé |
| Criminal charge | Abuse of confidence illegal access to computers |
| Spouse(s) | (separated) |
| Parent(s) | Charles (deceased) Marie Josée |
Jérôme Kerviel (French pronunciation: [ʒeʁom kɛʁvjɛl]; born 11 January 1977) is a French trader who was convicted in the 2008 Société Générale trading loss for breach of trust, forgery and unauthorized use of the bank's computers, resulting in losses valued at €4.9 billion. Société Générale characterizes Kerviel as a rogue trader and claims Kerviel worked these trades alone and without its authorization. These assertions have been met with skepticism by some of Kerviel's former colleagues and acquaintances, as well as by some members of the news media. Kerviel had told investigators that his trading behavior was widespread at the company and that making a profit made the hierarchy turn a blind eye. Kerviel published a book in May 2010, L'engrenage: Mémoires d’un Trader (The gears: Memoirs of a Trader), in which he alleges that his superiors knew of his trading activities, and that the practice was very common.
Jérôme Kerviel grew up in Pont-l'Abbé, Brittany. His mother, Marie-Josée, is a retired hairdresser, and his father, Charles, who died in 2006, was a blacksmith. Kerviel has an older brother, Olivier. Kerviel is married, but he and his wife separated in 2008.
He graduated in 2000 from University Lumière Lyon 2 with a Master of 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's degree in Finance from the University of Nantes.
During an interview, one of his former lecturers at Lyon, Gisèle Reynaud, stated that "He was a student just like the others, a young man, and he didn't distinguish himself from the others." In 2001, at the suggestion of Thierry Mavic, the Mayor of Pont l'Abbé, Kerviel stood for a seat on the local council with the Union for a Popular Movement party but was not elected.
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