Hints and tips:
...“The numbers are still incredibly messy,” said Jérôme Legras, a managing partner and head of research at Axiom Alternative Investments. “For now it’s too hard to read through all the moving parts.”...
...When Société Générale discovered in January 2008 that derivatives trader Jérôme Kerviel had secretly run up €4.9bn of losses, panicked managers assembled a task force to assess the wreckage and steer the...
...Additional reporting by Owen Walker in London...
...“The market is likely to be shocked by such a blatant inversion of the hierarchy of creditors and by the decision to sweeten an equity deal at the expense of bondholders,” said Jérôme Legras, head of research...
...Jérôme Legras, head of research at Axiom Alternative Investments, which holds Credit Suisse AT1s, said the move could undermine trust in financial markets....
...“The rate rises are an enormous change, a gift from heaven that had been awaited for a long time,” said Jérôme Legras, head of research at Axiom Alternative Investments....
...Oudéa was parachuted into running SocGen in 2008 following an infamous rogue trading scandal, when Jérôme Kerviel lost the lender €4.9bn....
...I layer it with Rick Owens T-shirts. Also, James Perse. The place that means a lot to me is Reference Point, off the Strand in London. It’s got a nice clientele and great books and events....
...Additional reporting from Owen Walker and Siddharth Venkataramakrishnan...
...He took charge after the Jérôme Kerviel rogue-trading scandal in 2008 and has guided SocGen through a series of crises but is facing mounting scrutiny from investors as he attempts to turn the bank around...
...SocGen’s second-quarter loss of €1.26bn — its worst since the losses associated with rogue trader Jérôme Kerviel in 2008 — had heaped pressure on chief executive Frédéric Oudéa, the longest-serving boss...
...However, his ascent at the French bank was derailed by the Jérôme Kerviel rogue trading scandal that occurred in the investment banking division under his watch....
...Chief financial office Jérôme Grivet also said it was too early to say if the second lockdown under way in France this month would lead to an “explosion in the cost of risk” next quarter....
...France’s third-largest bank on Monday revealed a surprise €1.26bn loss for the three months to June, its weakest quarterly performance since the losses associated with rogue trader Jérôme Kerviel in 2008...
...Meanwhile, the Jérôme Kerviel rogue trading scandal of 2008 also forced SocGen to pull back from riskier corners of the market and forced Mr Mustier out as head of the investment bank, while Mr Oudéa took...
...Chart via Jérôme Jean Haegeli, of insurer Swiss Re: But what does this mean? The most obvious interpretation would be to say that inflation is coming....
...David Owen at Jefferies adds: “All prospective Tory MPs may have signed up to Boris Johnson’s deal, but that was then. When in parliament with a slim majority things could look very different....
...Marie Owens Thomsen is global head of investment intelligence at Indosuez Wealth Management...
...The only big name is Eric Owens, a little threadbare on top but warmly dignified as the Forester....
...As Red as Blood, by Salla Simukka, translated by Owen Witesman, Hot Key Books, RRP£7.99 Pacy Finnish noir with a punky heroine who has more than a whiff of Lisbeth Salander....
...Jane Owen FT House & Home editor …………………………………………………………….....
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