Barings Bank Nick Leeson

As the 27 year old star trader of barings one of the world s oldest merchant banks leeson ratcheted up and concealed mega losses in speculative and illegal trades from the singapore office.

Barings bank nick leeson.

Nick leeson the bank s then 28 year old head of derivatives in singapore gambled. Nicholas william leeson born 25 february 1967 is an english former derivatives trader notorious for bankrupting barings bank the united kingdom s oldest merchant bank. It was founded in 1762 by francis baring a british born member of the german british baring family of merchants and bankers. Leeson did make barings vast sums.

How nick leeson became barings bank s superstar nick leeson grew up in london s watford suburb and worked for morgan stanley after graduating from university. The bank collapsed in 1995 after suffering losses of 827 million resulting from fraudulent investments primarily in futures contracts conducted by its employee nick leeson working at its. After opening a future and options office in. In 1993 he made 10m 10 of the bank s profits for that year.

The collapse of barings bank in february 1995 was caused by colossal losses incurred by a single rogue trader. Shortly after leeson joined barings and was transferred to jakarta indonesia to sort through a back office mess involving 100 million of share certificates. Nick leeson gave one of the most interesting and thought provoking talks of the weekend with his personal account of how he brought the uk s oldest investment bank barings bank to collapse through his fraudulent speculation. Barings bank a virtual case study nick leeson barings bank a virtual case study since my release from prison in july 1999 i have spoken extensively around the world about my experiences before during and after the collapse of barings bank.

He was a rogue trader who made fraudulent unauthorized and speculative trades and his actions led directly to the 1995 collapse of the bank for which he was sentenced to prison.