Societe Generale

  • socgen


    Lawsuit Claims Société Générale Is Pretty Much The Worst

    If you’re gay and don’t like being discriminated against for being gay. Otherwise it’s the cat’s pajamas.

    / Feb 19, 2015 at 12:58 PM
  • jerome kerviel


    Jérôme Kerviel’s Week Is Looking Up

    Yes, under the terms of his parole he’ll have to follow a curfew but it could’ve been a lot worse (in this case, worse meaning prison and a multi-billion fine, which would’ve taken god-knows-how-many walk-a-thons to pay back).

    / Sep 4, 2014 at 5:30 PM
  • jerome kerviel


    There Are Some Upsides To A €4.9bn Fine

    We’re not going to sugarcoat it. There aren’t a lot. But if you find yourself frequently plagued by parking, speeding tickets and the like, consider this silver lining:

    / May 9, 2014 at 2:52 PM
  • News

    Gaddafi’s Successors Find Fault With Another Of His Banks

    Société Générale was, like Goldman Sachs, allegedly much better at coming up bribes than it was as managing the Libyan sovereign wealth fund’s wealth.

    / Apr 1, 2014 at 10:15 AM
  • jeromekerviel


    Jérôme Kerviel’s 900 Mile Walk To Raise Awareness Re: Tyranny Of Financial Markets A Work In Progress

    Yes, he’s already two hundred miles in, but with seven hundred to go, there is still plenty of time to hit up like-minded people to pledge just one dollar (or more) for every mile walked, the proceeds of which will go to financial tyranny research and to getting him some Dr. Scholl’s sneaker inserts.

    / Mar 6, 2014 at 2:40 PM
  • Banks

    Russia, Ukraine Not The Best Places To Be In Banking Right Now

    And, unfortunately for Raiffeisen International, it’s not a great time (read: not possible) to get out , either.

    / Mar 4, 2014 at 2:51 PM
  • Pope Francis waves to crowds as he arrives to his inauguration mass on 19 March 2013.


    Pope Francis, Rogue Trader Have A Chat

    Rogue trader Jerome Kerviel may have fallen from grace in the banking world. Inside Vatican City, however, he was granted a brief audience Wednesday with Pope Francis himself. Mr. Kerviel, the former Société Générale trader convicted of making unauthorized trades in 2008 that cost his bank €4.9 billion, was among the handful of pilgrims who […]

    / Feb 19, 2014 at 5:17 PM
  • societe-generale-170x170


    Layoffs Watch ’13: SocGen

    The French are planning cuts, but only for those who want ‘em. Everyone else can stay.

    / May 7, 2013 at 10:59 AM
  • News

    Layoffs Watch ’13: Société Générale May Or May Not Cut Jobs

    Nothing has been finalized, though according to a spokesperson for the bank, anyone who’d like to take a little initiative and just would be helping the bank out big time.

    / Apr 5, 2013 at 1:40 PM
  • News

    Bonus Watch ’12: Société Générale

    The French bank has some very angry little mistmakers on its hands.

    “Societe Generale paid their 1st year investment banking analysts between 15k-50k in bonuses. Most juniors were furious, especially since this is 20-40% lower than Street. The firm is continually declining in the Americas within investment banking, and has reduced tremendous headcount over the past year. It relies heavily on trading revenues from derivatives, with very little resources dedicated to M&A, ECM, and DCM. In a period where other banks are cutting operations in the US, SocGen leads the pack in decline. In February 2012 head of CIB, Didier Valet, said that the firm would not compete with bulge brackets. Regardless of these negatives, SocGen continues to say that it is a top investment banking player. They are not, and juniors on Wall Street should know before entering into this trap.”

    / Jul 17, 2012 at 2:28 PM
  • News

    Layoffs Watch ’11: SocGen

    Cuts are said to have gone down Monday.

    / Dec 7, 2011 at 6:02 PM
  • News

    All In All, Larry Fink Would Prefer It If You’d Buy His ETFs, Not SocGen’s

    Today’s all-the-things-are-the-same-thing news, sort of, is Bloomberg’s report of the tiff between BlackRock’s Larry Fink and a guy at “Lyxor,” which is the name of SocGen’s ETF business and also a good way to make me think of the words “pyramid,” “casino,” “typo” and now “SocGen” all at the same time, which does not make […]

    / Nov 18, 2011 at 6:12 PM
  • News

    Layoffs Watch ’11: Dick Bové Suggests Girding All Of Your Loins

    Sources believe that Europe’s banking giants, including Deutsche Bank, UBS and Credit Suisse, along with Societe Generale and Dexia, are preparing to wield the ax in a way not witnessed since the depths of the financial crisis in 2008. “People will be fired everywhere,” said Dick Bove, an outspoken bank analyst at Rochdale Securities. [NYP]

    / Oct 24, 2011 at 1:06 PM
  • News

    At Least One Bank Offering Service So Good You’ll Scream

    Something you may have picked up on is that lately? Customers are not so happy with their banks, particularly if their banks are Bank of America or Citigroup. The websites apparently never work, there are the rage-inducing fees, and there’s the general feeling that Brian Moynihan and Vikram Pandit? Don’t actually care about them. When […]

    / Oct 20, 2011 at 4:04 PM
  • News

    French Banks Are Not Keeping Goldman Up All Night

    Today seems to be the day of banks praising each other with faint damns, what with James Gorman handing out copies of a Credit Suisse report lowering estimates for Morgan Stanley. Goldman equity research is also out with a mammoth and interesting note on French banks, which against this market backdrop actually manages to sound […]

    / Oct 4, 2011 at 12:24 PM
  • Banks, News

    SocGen CEO Doesn’t Want Your Dollars, Wouldn’t Take Them If You Begged Him

    We have reduced our funding needs in dollars and we have buffers that can use if the situation carries on. I will communicate all that to the market and I am sure we will be able to regain confidence. … The amount of money market funds, funding resources, compared with the amount of buffers, is […]

    / Sep 13, 2011 at 4:56 PM
  • News

    Société Générale CEO Is What Jeffrey Gundlach Would Call ‘Les Incompetents’

    Jeffrey Gundlach is a hugely talented man. The bond manager, who is currently being sued by his former employer for alleged theft of proprietary information that he snuck out of the office in a secretary’s bra, can do it all. In addition to being, as he’s previously stated, “The guy who can make it rain […]

    / Aug 17, 2011 at 10:47 AM
  • News

    European Regulators Contemplate Temporary Ban On Financial Fiction

    With half of Europe having banned short-selling and anything that might loosely resemble it, if you think that French banks are undercapitalized then you may be seeking less traditional ways to monetize that view. One approach that you might have considered is writing a fictional account of a near-future Eurozone meltdown with real names of […]

    / Aug 15, 2011 at 2:01 PM
  • News

    Irate French Controller’s Got Jerome Kerviel’s Number

    The other day we noted that in the course of making fake trades at SocGen, Jerome Kerviel had invented a fake client who he’d named Matt, whose bio Kerviel added little flourishes to such as the fact that Matt apparently loved to play rugby. Today we hear from a non-imaginary colleague of Kerviel’s, none too […]

    / Jun 17, 2010 at 12:42 PM
  • News

    Jerome Kerviel Invented A Friend Named Matt, Built A Vivid Character Sketch Of The Guy

    I knew there was a reason I loved Jerome Kerviel and today that reason became crystal clear. As previously mentioned, the former SocGen trader admitted faking a buncha trades during his time with the firm. Now, there’s this:

    / Jun 15, 2010 at 3:39 PM
  • News

    Jerome Kerviel: Yeah I Faked Some Trades

    Was that wrong? Should he not have done that? Under questioning by Judge Dominique Pauthe, Kerviel said he began making larger bets in 2005 and started falsifying transactions indicating he had covered his bets. Kerviel said he continued to exceed the 125 million-euro trading limit set for the Delta One trading desk where he worked […]

    / Jun 9, 2010 at 1:30 PM
  • News

    Jerome Kerviel Has A Really Good Excuse For Why He Lost Soc-Gen €4.9 billion

    Naturally it involves sucking dick for coke. I’m kidding! Though an admitted prostie, Kerviel is not that kind of whore.

    / May 3, 2010 at 10:15 AM
  • News

    Accused Soc Gen High Frequency Thief Was Headed To Tower Research

    Editor’s Note: The following is a guest post by John Carney. The former Societe Generale trader arrested yesterday on charges of stealing Soc Gen’s computer code for high-frequency trading was set to begin work this week at Tower Research Capital, a New York based quantitative hedge fund, according to a source. Samarth Agrawal was charged […]

    / Apr 21, 2010 at 3:52 PM

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