Rogue Trader makes a Comeback into the World of Finance

leeson

Nick Leeson, who busted Barings, Britains oldest merchant bank is officially back working in a corporate finance position.

In the mid 90’s Leeson was in charge of Barrings Singapore futures trading division unit. This is where Leeson racked up 1.3 billion in losses by betting incorrectly on the direction of Japense equities. When he was down hundreds of millions and well beyond his borrowing capacity, he did the unthinkable and doubled down his bets, losing even more.

The amazing thing is that Leeson only had to serve 6 and a half years, about half of his original sentence. When he got out of prison he did a few speeches and was highly wanted on the PR scene. After that he found work doing small book keeping projects and keeping a relatively low profile. Now GDP, an Irish Debt restructuring firm has hired him to work directly with clients to renegotiate terms on their mortgages.

Would you trust him?

Take some time this weekend to watch the film “Rouge Trader”. It’s a classic with old traders talk and great 90’s cinema!

Watch Full Video on Youtube Here!