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Jerome Kerviel, the ex-Société Générale trader accused of costing the bank billions in losses after evading its system controls, has found work at a computer consultancy. His trainee post at Lemaire Consultants & Associates (LCA), a Paris-based security and system development firm, represents his first job since leaving prison last month. Three separate US media outlets have so far reported Mr Kerviel’s employment, saying it has been confirmed by his lawyers, his PR people or by employees at LCA. Although the nature of Mr Kerviel’s work is under wraps, he is familiar with MS Office, as well as the Visual Basic programming language, according to his CV. Yet under conditions of his bail, the 32-year-old is not allowed to set foot inside a trading room, and is prohibited from engaging in activities related to financial markets. No such ban extends to his work on computers, even though Mr Kerviel is being investigated for misuse of computers, and circumvented internal-control systems to make his audacious bets, Société Générale has said. Moreover, the former European stock futures trader is a “computer genius,” according to characterisations of him by Christian Noyer, France’s central bank chief. But Jean-Raymond Lemaire, founder of LCA, who has worked with Mr Kerviel's lead lawyer, Elisabeth Meyer, has said his new recruit doesn’t live up to the hype. “He is not an IT prodigy,” Mr. Lemaire said in a February interview with the French magazine, Paris Match. The declaration undermines the impression from Société Générale that Mr Kerviel was a devious IT whizz responsible for exposing the bank, at one time, to the tune of $50bn. Soc Gen is now apparently glad that their ex-junior employee, who is still being investigated for unauthorised trades, has fallen on his feet. Jean Veil, a lawyer for Société Générale, told the International Herald Tribune that he was “delighted” at news of Kerviel’s IT job because “it means he will be in a position to start repaying the bank”. Apr 28, 2008 Email this article Printer friendly page Previous Page
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