4.25.2008

If you cant Stop them, Hire Them


[PARIS — Jérôme Kerviel, the Société Générale trader who used his knowledge of the French bank’s electronic risk controls to conceal billions in unauthorized bets, has a new job — at a computer consulting firm.

Mr. Kerviel, who was given a provisional release from prison on March 18, started work last week as a trainee at Lemaire Consultants & Associates, which specializes in computer security and system development, a spokesman for the former trader, Christophe Reille, confirmed on Friday.

The news comes a few days after Société Générale held a farewell party for two managers of the derivatives trading desk who resigned in the wake of the trading scandal, which the bank blames for losses of about 4.9 billion euros, or about $7.1 billion.

A lawyer for Société Générale, Jean Veil, said that he was “delighted” that Mr. Kerviel had found employment. “It means he will be in a position to start repaying the bank.”]-NYT