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September 5, 2008 10:42:10 PM CDT

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Stories related to: Daniel Bouton

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4 Stories

  • April 2008

    • SocGen CEO Resigns Over Rogue Trader

      Financial Times (UK)  |  Apr 18, 08 4:59 AM CDT

      SocGen CEO Resigns Over Rogue Trader

      (Newser) - The CEO of Société Générale will step down, at last bowing to pressure in the wake of the $7.8 billion rogue trading scandal. Although investors and politicians—including French President Nicolas Sarkozy—had demanded Daniel Bouton's resignation immediately after the revelation of Jérôme Kerviel's massive fraud, the bank had insisted he stay on to keep SocGen from collapse, reports the Financial Times . More »

      Tags

      France  • Société Générale  • Jérôme Kerviel  • bank fraud  • rogue trader  • Daniel Bouton

  • February 2008
  • January 2008

    • SocGen Board Stands By Its Execs

      Wall Street Journal  |  Jan 30, 08 10:52 AM CST

      SocGen Board Stands By Its Execs

      (Newser) - Defying pressure from the French government, Société Générale's board of directors today unanimously voted to keep co-chief executives Daniel Bouton and Philippe Citerne in their jobs. About 100 employees endorsed the sentiment by leaving the embattled bank's headquarters and standing on the sidewalk in a show of support for Bouton, reports the Wall Street Journal . More »

      Tags

      France  • Société Générale  • Jérôme Kerviel  • Daniel Bouton

    • Rogue Trader Bet $73B —Twice SocGen's Worth

      Washington Post  |  Jan 28, 08 5:41 AM CST

      Rogue Trader Bet $73B —Twice SocGen's Worth

      (Newser) - Maverick trader Jérôme Kerviel gambled with $73 billion, twice the market value of Société Générale, by stealing computer access codes and setting up fake email accounts, the French bank revealed as new details emerged in one of the biggest scandals in history. One executive also conceded that the "complicty" of others could not be ruled out. Kerviel cost the company $7.14 billion as his "virtual losing position became huge," said the head of the bank, who called the scandal a "Greek tragedy." More »

      Tags

      Société Générale  • Jérôme Kerviel  • Daniel Bouton  • DAX

4 Stories

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