The business world is abuzz after the stunning release of a four-line press alert Wednesday from banking giant UBS. It said only that an unauthorized trader at the investment firm had lost $2 billion in trades.
Though the bank has refused to identify the alleged rogue trader, British media reports that police have taken into custody 31-year-old Kweku Adoboli, who writes on Linkedin that he works as a director in European equity trading for the Zurich-based bank.
Adoboli’s Facebook profile was taken down Wednesday night, but the Financial Times got a peek at what it said. The final entry on Sept. 6: “need a miracle.”
Storyful has pulled together other online clues about Adoboli’s life here.
While the losses caused by the trader do seem huge, in comparison to the 2008 case of Jerome Kerviel, they are merely a fraction. Kerviel’s bets lost the French bank Societe Generale $6.8 billion.