Nick Leeson


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Nick Leeson

A derivatives broker employed in the Singapore office of Barings Bank, which, before Leeson was sent, had not actively traded on SIMEX before. Leeson was permitted to conduct arbitrage by buying futures on Nikkei and at the same time selling them on SIMEX. Instead, he made unhedged futures transactions on Nikkei and reported his losses as gains. His trading was exposed following large losses on Nikkei after an earthquake. His losses totaled more than $1 billion, twice Barings' available capital. He spent about three years in jail and was released in 1999. He was born in 1967.
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3bn to the Swiss bank, and Nick Leeson, a self-proclaimed 'original rogue trader', said that the new rules that would apply to bankers, asset managers and hedge funds would fail
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IN A case that hinted at the turmoil to come in the world's unregulated global financial markets, rogue trader Nick Leeson was jailed for six-and-a-half years in December 1995.
I was watching Rogue Trader the other day - it's the film of how Nick Leeson brought down Barings Bank.
Speculation and dreadful decisions led to the loss of millions of pounds at Baring's by the hapless Nick Leeson, who received a substantial prison sentence in Singapore.
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