Jérôme Kerviel

Société Générale is the second largest bank in France, behind BNP Paribas, and one of the 10 biggest euro zone banks. Better known as SocGen, its reputation was dented after news that a rogue trader, Jerome Kerviel, had lost it more than the equivalent of US$7 billion. Kerviel was subsequently sentenced to three years in jail, and the bank won a 4.9 billion euro judgement against Kerviel.

Jerome Kerviel (second left) and his lawyer David Koubbi (right) are reflected in a window as they arrive at court on Thursday. Photo: AFP

Ex-trader Kerviel rebuffed by Paris employment tribunal

A Paris employment tribunal has rejected former Societe Generale trader Jerome Kerviel’s plea for a new expert inquiry to help overturn his dismissal in France’s biggest-ever trading scandal in 2008.