Jérôme Kerviel Biography: Wikipedia, Controversy, Age, Nationality, Net Worth, Height, Book, Parents, Siblings

Jérôme Kerviel is a French former trader who became infamous for his role in one of the largest trading losses in history while working at Société Générale, a major French bank.

Born on January 11, 1977, in Pont-l’Abbé, Brittany, Kerviel‘s actions led to a staggering loss of approximately €4.9 billion (about $7.2 billion) due to unauthorized trading activities between 2006 and early 2008.

Profile

• Full name: Jérôme Kerviel
• Date of birth: January 11, 1977
• Age: 48 years old
• Gender: Male
• Place of birth: Pont-l’Abbé, Brittany, France
• Nationality: French
• Profession: Former trader
• Height: 185 cm
• Parents: Marie-Josée and Charles Kerviel
• Siblings: Olivier Kerviel
• Spouse: N/A
• Children: N/A
• Relationship status: Divorced
• Religion: N/A
• Ethnicity: Caucasian
• Net worth: $1 million

Early Life and Education

Jérôme Kerviel is now at the age of 48, having been born on January 11, 1977 to parents: Marie-Josée and Charles Kerviel. He grew up in Pont-l’Abbé, with his brother Olivier. Kerviel attended the University of Nantes, where he earned a degree in finance.

He later pursued a Master’s degree in finance at Lyon, specializing in organization and control markets. After completing his education, he joined Société Générale in the year 2000, initially working in the compliance department before moving to the trading desk.

Personal Life

Jérôme Kerviel‘s has been married once, but got divorced in 2008. Not much is know aboout his personal life, as he has kept most of romantic relationships away from the spotlight.

Career

Kerviel‘s career at Société Générale began in the compliance department before he was promoted to a junior trader position on the bank’s Delta One trading desk. His responsibilities included arbitrating small price differences between derivative contracts.

However, after experiencing initial success with some trades, Kerviel began engaging in unauthorized trading activities around 2006. He exploited his knowledge of the bank’s systems to create fictitious trades that concealed his significant market positions.

By early 2008, Kerviel had amassed unauthorized trades totaling approximately €50 billion, far exceeding the bank’s market capitalization. When Société Générale discovered these activities in January 2008, they were forced to liquidate these positions quickly to minimize losses, resulting in a reported loss of €4.9 billion for the bank.

Kerviel was charged with breach of trust, forgery, and unauthorized use of the bank’s computers. His trial began in June 2010, leading to a conviction that resulted in a five-year prison sentence (with two years suspended) and a symbolic restitution order for the losses incurred.

Net worth

Jérôme Kerviel‘s net worth is negative -€4.9 billion. His legal troubles and financial losses stemming from his actions at Société Générale.

Controversy

Jérôme Kerviel‘s actions led to one of the most significant scandals in banking history. His unauthorized trading activities raised questions about risk management practices within Société Générale and highlighted systemic issues within financial institutions regarding oversight and accountability.

During his trial, Kerviel was portrayed as a rogue trader who acted recklessly and without regard for the consequences of his actions. The prosecution argued that he deliberately circumvented internal controls and engaged in fraudulent activities that resulted in catastrophic losses for the bank.

However, there were also arguments suggesting that Kerviel was not solely responsible for the events that transpired. Some critics pointed out that Société Générale’s culture may have contributed to Kerviel‘s actions by fostering an environment where traders felt pressure to generate profits at any cost.

The bank’s oversight mechanisms were called into question as many believed they failed to detect such massive unauthorized trading activity until it was too late.

Kerviel himself has claimed that he was used as a scapegoat for larger systemic issues within the banking industry. In interviews following his conviction, he expressed remorse for his actions but also emphasized that he was not alone in contributing to the circumstances that allowed such significant losses to occur.

Social Media

• N/A

Books

• “L’engrenage” (2014)