Proposed Exchange Chief Carsten Kengeter Was Viewed as Possible Libor Co-Conspirator
It's in Europe but may still be interesting to some if you consider what the LIBOR scandal was all about...
Proposed Exchange Chief Carsten Kengeter Was Viewed as Possible Libor Co-Conspirator
Deutsche Börse CEO is in line to become head of Europe’s largest stock exchange if LSE merger goes through
By DAVID ENRICH and SHAYNDI RAICE
March 13, 2016 4:52 p.m. ET
Carsten Kengeter is on track to run Europe’s largest stock exchange. Three years ago, British prosecutors viewed him as a possible co-conspirator in the global interest-rate-rigging scandal.
Mr. Kengeter is chief executive of Deutsche Börse AG, the German exchange that is in talks to merge with London Stock Exchange Group PLC. Under terms of the planned merger, Mr. Kengeter would become CEO of the combined company, which will be based in London.
In early 2013, the U.K.’s Serious Fraud Office was building criminal cases against traders and brokers allegedly involved in manipulating the London interbank offered rate, or Libor. The SFO’s investigation was focused in part on officials at Swiss bank UBS Group AG, where Mr. Kengeter had until recently been a senior executive, SFO officials have publicly said.
Tom Hayes, a former UBS and Citigroup Inc. trader, was cooperating with the SFO’s investigation. In March 2013, the SFO presented Mr. Hayes’s lawyers with a draft cooperation agreement that described the fraud charges that the agency planned to file against the former trader and listed his alleged co-conspirators, according to a copy of that agreement reviewed by The Wall Street Journal....
Full article:
http://www.wsj.com/articles/kengeter-was-listed-by-u-k-prosecutors-in-2013-as-possible-rate-rigging-co-conspirator-1457902349
