Nick Leeson is a former derivatives trader whose unauthorized speculative trading caused the collapse of Barings Bank, the United Kingdom's oldest investment bank, in 1995. His actions and their consequences made global headlines and led to significant changes in the financial industry.
Nick Leeson was born on February 25, 1967, in Watford, Hertfordshire, England. He grew up in a working-class family and attended Parmiter's School. After completing his education, he began his career in the financial sector as a clerk at Coutts & Co.
Nick Leeson married Lisa Sims in 1992. The couple faced tremendous pressure during Leeson's legal and financial troubles, eventually leading to their divorce. Leeson later remarried and has since focused on rebuilding his personal life, including a battle with cancer and a new career as a motivational speaker.
Nick Leeson's professional life is most notably marked by his tenure at Barings Bank, where he worked as a derivatives trader. His unauthorized trading led to losses of £827 million, resulting in the bank's bankruptcy. After serving a prison sentence, Leeson wrote a book about his experiences and has become a sought-after speaker on risk management and corporate responsibility.
The collapse of Barings Bank was caused by Nick Leeson's unauthorized speculative trading in futures and options, which led to massive financial losses. His concealment of the losses ultimately resulted in the bank's insolvency and collapse in February 1995.
After serving his prison sentence, Nick Leeson focused on rebuilding his life by sharing his experiences through public speaking and writing. He authored the book "Rogue Trader," which was later adapted into a film. Leeson also became involved in cancer charities following his battle with the disease.
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