Rogue Trader

Nick Leeson

Physical

In Circulation

This account describes how a 28-year-old from Watford, Nick Leeson, plunged Barings Bank into ruin. In 1994, Leeson seemed to be making the company millions of pounds a week, but he explains how the cover-up of a colleague's small error led to the crash of Britain's oldest merchant bank.

What will you learn from this book

  1. Rise to Prominence: The book details Nick Leeson's meteoric rise within Barings Bank, culminating in his appointment as the head derivatives trader for Barings Futures Singapore (BFS).

  2. Financial Market Expertise: Leeson's background and expertise in financial markets, particularly in derivatives trading, are highlighted, showcasing his proficiency in trading complex financial instruments.

  3. Rogue Trading: Leeson's unauthorized speculative trading activities, specifically in the futures and options markets, are outlined, leading to massive losses for Barings Bank.

  4. Concealment of Losses: Leeson's attempts to conceal mounting losses through false accounting and manipulation of trading records are described, shedding light on the deceptive practices employed to cover up financial mismanagement.

  5. Escalating Losses: The book documents the rapid escalation of losses resulting from Leeson's risky trading strategies and market speculation, ultimately leading to the collapse of Barings Bank, one of the oldest financial institutions in Britain.

  6. Legal and Regulatory Failures: Leeson highlights the failures of internal controls, oversight mechanisms, and regulatory authorities that allowed his unauthorized trading activities to go undetected for an extended period.

  7. Capture and Arrest: The book details Leeson's flight from Singapore, his eventual capture in Germany, and his extradition to Singapore to face criminal charges related to his fraudulent trading activities.

  8. Imprisonment and Redemption: Leeson's subsequent imprisonment in Singapore, his struggles with mental health issues, and his eventual release from prison are chronicled, highlighting his journey toward redemption and personal reflection.

  9. Lessons Learned: Leeson reflects on the consequences of his actions, acknowledging the devastation caused by his reckless behavior and the importance of integrity and ethical conduct in the financial industry.

  10. Impact on Financial Markets: The collapse of Barings Bank and the revelations surrounding Leeson's rogue trading activities sparked widespread debate and scrutiny regarding risk management practices, regulatory oversight, and accountability in the financial sector.

Language English
ISBN-10 0316879711
ISBN-13 978-0316879712
No of pages 273
Font Size Medium
Book Publisher Little Brown & Co
Published Date 19 Feb 1996

About Author

Author : Nick Leeson

1 Books

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