Got to love the crappy 'Delta 1' name. Surely though a better military term would have been 'Clusterfuck 1'. Wonder how many other desks working in the investment banks should adopt that name? Quite a few I'd imagine, but not though in bull markets because then their talents really shine, just like monkeys.
So is Denzel Washington or Samuel Jackson going to play his part in the inevitable trading movie? Or Ewan McGregor wearing black boot polish? There is defintely space for another Rogue Trader movie...
IMO that Kweaku guy is just the patsy for a con perpetrated on the UBS shareholders, perhaps on the Swiss government too.
He is not a top traders. Top traders make millions and millions of dollars each year. Last year, he rolled in $438,000.00. That is much lower than the average traders in Goldman Sachs made last year.
Delta1 is to distinguish it from trading convexity. It's where they put the "automatics" and "sheet monkeys". It's dead-ville. The kid is the son of a diplomat. It's not really that surprising.