Events tagged with "nick leeson"

Historical Events tagged with "nick leeson"

Turns out history loves a label—battles, breakthroughs, and the occasional disaster, all neatly tagged for your browsing pleasure. Because sometimes you just need every weird invention in one place.

Economics & Industry

Collapse of Barings Bank due to rogue trading

February 26th, 1995 30 years ago

Barings Bank, the UK’s oldest investment banking institution, faced collapse after broker Nick Leeson incurred massive losses totaling $1.4 billion through unauthorized trading on the Singapore International Monetary Exchange. Leeson engaged in speculative futures contracts, betting on market movements, which ultimately backfired. As the extent of the losses became apparent, the bank was unable to recover, leading to its insolvency and a major financial crisis.