Nick Leeson Net Worth is$9 Million
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Profession: Banker, Chief Executive Officer, Trader
Date of Birth: Feb 25, 1967
Nicknames: Nicholas Leeson
Country: England, United Kingdom
Nick Leeson, a former derivatives broker from the UK who caused the collapse of Barings Bank has a net worth of $9 Million. He is best known for being the captain behind the demise of Barings bank by doing unauthorized speculative trading. It's all very complicated, but just known he was hiding losses and did so to pocket money for himself. This, of course, is the M.O. of many traders in the market today and essentially one of the main reasons for the current recession, as well as Enron's Collapse years ago. After realizing he was caught, he jumped around the world, trying to hide from his impending jail time, but to no avail. He was eventually captured in Germany and imprisoned for four years in Singapore, where his wife left him, he lost most of his money and became an HUGE outcast in the financial world, being the sole creator of destroying a 230 year old corporation. But, I have to admit, he did manage to rise (a bit) from the ashes. While in jail he wrote a book entitled, "Rogue Trader" which many people described as pompous, but did manage to land him a movie deal. The movie, with the same name came out in 1999 staring Ewan McGregor and Anna Friel. After his release in 1999, he remarried, moved to Ireland and continues to trade (with his own money this time) and do speaking engagements where he gets around $8,000 per presentation. Not bad for an hours work. Interestingly enough, a jacket that he supposedly wore while trading on the SIMEX in Singapore recently sold on eBay for an amazing $32,900... Crazy what people will throw money away on isn't it?
Nicholas "Nick" Leeson (born 25 February 1967) is a former derivatives broker whose fraudulent, unauthorized speculative trading caused the collapse of Barings Bank, the United Kingdom's oldest investment bank, for which he was sent to prison. Since leaving prison in 1999 he became, and subsequently resigned as, the CEO of Irish football club Galway United and is active on the keynote / after-dinner speaking circuit where he advises companies about risk and corporate responsibility.
Leeson was born in Watford, where he attended Parmiter's School. After finishing school in 1985 he landed a job as a clerk with a private bank, Coutts. He then moved to Morgan Stanley in 1987 for two years, eventually ending up with Barings in 1989.
In 1992 he was appointed general manager of a new operation in futures markets on the Singapore International Monetary Exchange (SIMEX). Barings had held a seat on SIMEX for some time, but did not activate it until Leeson was sent over. Leeson was sent to Singapore after he was denied a broker's license in the United Kingdom because of fraud on his application.[citation needed] Neither Leeson nor Barings disclosed this denial when Leeson applied for his license in Singapore.
In October 1994, Leeson was arrested in Singapore for an incident involving mooning.
From 1992, Leeson made unauthorized speculative trades that at first made large profits for Barings: lb10 million, which accounted for 10% of Barings' annual income. He earned a bonus of lb130,000 on his salary of lb50,000 for that year.
However, his luck soon went sour and he used one of Barings' error accounts (accounts used to correct mistakes made in trading) to hide his losses. The account was numbered 88888 - 8 being a number considered to be very lucky in Chinese numerology. Leeson claims that this account was first used to hide an error made by one of his colleagues; rather than buy 20 contracts as the customer had ordered, she had sold them, costing Barings lb20,00

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Nick Leeson Latest News

Former Rolls-Royce boss hires Nick Leeson’s lawyer

Former chief executive of Rolls-Royce, Sir John Rose has hired the lawyer who defended rogue Barings trader Nick Leeson to defend himself against any allegations that he was involved in the bribery of export agents on behalf of the luxury car manufacturer.
Posted: January 23, 2017, 4:00 am

Rogue trader Nick Leeson to speak at wealth conference

Nick Leeson, the infamous rogue trader who brought down Barings Bank, is to speak at a wealth conference in Macclesfield. Equinox Live takes place at Alderley Park in Cheshire and will also feature global market strategist Michael J. Bell, behavioural ...
Posted: May 8, 2018, 3:28 am

Regional: Equilibrium goes rogue with lesson from Leeson

Cheshire-based Equilibrium Asset Management held its inaugural wealth conference last Wednesday, with infamous rogue trader Nick Leeson headlining. Leeson caused the collapse of England’s oldest bank, Baring’s, in 1995, when he was a 28-year-old ...
Posted: May 18, 2018, 7:00 am
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