PARIS – He was tied this year to one of the largest securities scandals in history and faces charges ranging from forgery to unauthorized computer use, yet the former trader at French bank Societe Generale is gainfully employed, again.
Jerome Kerviel, who shook global financial markets when the bank revealed $7.14 billion in losses tied what it says were unauthorized trades, has landed a new job as a computer consultant.
"Jerome is a young man who wants to work, and doesn't want to remain inactive living on unemployment insurance — or whatever," said Kerviel's spokesman, Christophe Reille.
Kerviel is working for LCA computer consultancy in the Paris suburb of Levallois, hired by the same man who hid him from journalists after Societe Generale said the former trader held unauthorized positions of more than $73 billion.
Kerviel, 32, who was given provisional release from prison last month, got the job offer while behind bars in early February, said Reille. He was able to take the job because a judge changed in the terms of his provisional release from prison.
The revelation marks how Kerviel's life is at least partly returning to normal while he awaits his fate, now in the hands of investigating judges.
Kerviel says his superiors at Societe Generale must have known what he was doing, but that they chose to look the other way when he was making money for the bank.
Societe Generale, one of Europe's largest banks, is trying to rebuild its reputation after the trading fiasco. It raised 5.5 billion euros ($8.67 billion) to fill a hole in finances caused by the trading losses — and to fend off a potential takeover.
The bank says it has tightened controls to prevent the same thing from happening again.