Mr. Bouton said that Mr. Noyer, the Bank of France governor, and the French market regulator, AMF, were informed Sunday. "Everything happened this weekend; we had zero suspicions before Friday," Mr. Bouton said. He said four or five other staff will leave Société Générale, including Mr. Kerviel's immediate managers.
A senior government official said the office of President Nicolas Sarkozy was alerted about the debacle at Société Générale on Wednesday. "Suffice to say we would have appreciated an earlier warning," the official said.