Leeson, Nick (1967–)

NICK LEESON, the financial trader whose trading losses led to the collapse of Barings Bank, was born in Watford, Essex, England, the son of a plasterer. After leaving Parmiter's School, aged 18 in 1985, Leeson got a job working as an accounts clerk for the bank Coutts & Company settling checks. In June 1987, Leeson moved to the London branch of the American investment bank Morgan Stanley where he worked in the Settlements Division for Futures and Options. In June 1989, Leeson left Morgan Stanley, taking a job in the Settlements Division for Futures and Options of Barings Securities, the trading arm of Barings Bank, Great Britain's oldest merchant bank, founded more than 240 years ago in 1762.

Leeson created a reputation as a settlements expert ...

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