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Friday May 16 2008
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SocGen’s rogue problem - was Kerviel, at 31, too old?
Lex tackles the matter with the observation that youth and successful trading ideas tend to go hand in hand, citing accompanying evidence that recently-established hedge funds tend to do better than old ones.
Meanwhile, in an interview with the FT, held as SocGen launched its €5.5bn rights issue, Daniel Bouton insisted yesterday that the French bank had an independent future, but also admitted he still found the rogue trading scandal “unbelievable.” But Paul Betts, in his European View column, says SocGen looks well stocked with poison pills.
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