Page 2611 


SG's Rogue Trader Comes Back Down To Earth

Societe Generale's $7.1bn rogue trader, Jerome Kerviel, came back down to earth with a bump Friday, as a Paris Appeals Court ruled that he should be placed in 'temporary' detention. And 'temporary' could end up being 12 months or more, as it's likely to take at least a year for those intrepid Gaullic investigators to work out exactly what went on, and complete their report. Kerviel's lawyers have indicated, however, that they will appeal the decision.

ABN, Citi, Dresdner, HSBC, JPM, Nomura, Quattrone

The Wall Street Journal reports that Bank of America filed an appeal to the Dutch Supreme Court Tuesday, seeking to remove a lower court's decision to freeze the sale of the ABN AMRO unit LaSalle, which it is contracted to acquire in a deal worth $21bn. The Court is expeceted to rule by early July.

Bonuses - What The Papers Say

Financial News reports that Goldman Sachs kicked off this year's bonus round this week. The firm's 29,905 staff will share a record payout of some $18bn - that's an average of $601,900 per employee.

Recruiters - What Are You Seeing Out There ?

As we've asked on many occasions before - 'When have you ever hearrd a recruitment consultant say that they aren't do well ?'. Well, the markets have tanked, firms have started to pull in their horns, and recruiters are getting laid off.