The Collapse of Baring’s Bank
Imagine what it would be like if you lost a billion dollars and caused the downfall of one of Britain’s oldest banks?
This is exactly what Nick Leeson did. If you were around in the 1990’s, Nick was infamous. His photo was on the cover of every financial newspaper and he caused a major financial crisis through his rogue trading.
Better known as the “Rogue Trader”, Nick is famous for causing the fall of Barings Bank in 1995. Arguably the biggest financial scandal of the twentieth century, he lost an estimated £826 Million trading derivatives and caused the bankruptcy of Barings Bank.
He was sentenced to six and a half years in a Singapore prison and during this time he wrote his autobiography “Rogue Trader”, which was made into a movie starring Ewan McGregor.
Learning from Mistakes
Today Nick spends his time advising major financial institutions around the world, ensuring they learn from their mistakes and maintain the correct compliance, control, and transparency.
I loved talking to Nick. It brought back all these crazy memories of my time as a trader and regardless of whether or not you like trading, you’re going to love Nick’s story.
Join us as we discuss:
- Derivatives, the Singapore Prison System, and Barings Bank
- His childhood, time in school, and his mother
- Spoofing, securities, and trading Hong Kong futures
- Auditors, forgeries, and fraud
- Negligence, and the psychology of status and power
- Being caught in the Frankfurt airport and spending time in German prisons
- Triad gangs in prison, colon cancer, and his book