This is a snapshot of the Linkedin page of UBS equity trader Kweku Adoboli, the man the FT understands was arrested in connection to the €2bn unauthorised UBS trade, as seen through FT Alphaville reporter Izabella Kaminska’s Linkedin profile:
This is the snap shot of his boss.
The thing to note is Izabella Kaminska’s second degree connection to John Hughes via her work on exchange traded funds (ETFs) and how they fit into the Delta One banking division.
Delta One can be considered the last domain of prop trading in the banking sector, where via market-making activities, traders can still get away with taking ample risks.
As eFinancialCareers reported only this month, this is one of the few divisions in the banking community which is still hiring.
It’s also the division where SocGen’s Jerome Kerviel used to work.
And here, if only for the sake of posterity, is where you can view related connections on John Hughes’ Linkedin page.
The curse of delta one and ETFs strikes again.
Update (13:00): here’s what we think may be a sighting of Mr Adoboli outside his flat, which is in a yuppified soup kitchen in a radical-chic bit of East London. It comes from the Spitalfield Life blog and, please note, is entirely unverified.
Credit to @TheGentleAuthor.
Did Socgen use ETFs to liquidate Kerviel positions? – FT Alphaville
Delta one: the special ops of equity trading – FT Alphaville