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PARIS - SOCIETE Generale chairman Daniel Bouton has vowed to stay on as head of the scandal-hit French bank, telling an interviewer in an article on Monday his resignation offer was 'no longer on the table.'
'I offered my resignation on two occasions,' he told the financial newspaper Les Echos.
'The board refused it two times ... My resignation is no longer on the table. I'm staying, I'm steering, I'm driving. There should be no doubt about that.'
Bouton and Societe Generale are grappling with a massive 4.9-billion-euro (S$10.2billion) loss, revealed in mid-January, that they have attributed to unauthorised deals by a rogue trader.
The trader alleged to have carried out unauthorised trading, 31-year-old Jerome Kerviel is under investigation on charges of breach of trust, fabricating documents and illegally accessing computers in connection with the scandal.
A special committee appointed by Societe Generale itself exposed failures in the bank's internal controls.
Mr Bouton told Les Echos that from now on suspicion had to 'become the rule'.
He also declined comment on reports that Societe Generale might form an alliance with another bank.
'I don't want to feed speculation,' he said. -- AFP
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