Rogue trader_s reputation: a mix of bravado and humility.
Published:
7 July 1999 y., Wednesday
Rogue trader Nick Leeson walked out of a Singapore prison Saturday, four years after bringing down Britain_s oldest commercial bank and sending shock waves through Asia_s giddy financial world. Wearing a broad smile, T-shirt and warmup pants, the 32-year-old Briton was immediately taken to the airport, where security officers whisked him through passport control and put him on a commercial flight to London. Leeson spent nearly 3 years at Tanah Merah prison, convicted of fraudulently hiding $1.4 billion in losses at Barings Bank. His unauthorized futures trading made him one of the decade_s most notorious white-collar criminals. Now the subject of a book and film, Leeson has gained celebrity status. But his personality remains an enigma, his reputation an odd mix of loutish bravado and good-natured humility. Leeson, who failed math in high school, pushed his way into the financial world as a low-salaried clerk for Britain_s dignified Coutts and Co. bank in 1985. He moved to U.S. bankers Morgan Stanley in 1987, and then to Barings in London in 1989. After his trading losses were discovered, he fled Singapore but was caught in Frankfurt, Germany, and brought back to the island republic. His lawyer, Stephan Pollard, said Leeson would "certainly get a job as soon as is practicable" but cautioned that it would be difficult after spending time in prison. Newspapers reportedly have been vying to get an interview with Leeson for a six-figure sum, while the movie based on his case, "Rogue Trader," premiered last week in London before a star-studded audience.
Šaltinis:
MSNBC
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
European Commission Vice-President Siim Kallas, responsible for transport, today presented to the College a preliminary assessment of the economic consequences for the air transport industry of the volcanic ash crisis.
more »
Boosting economic recovery, investing in Europe's youth and in tomorrow's infrastructures are the priorities of the 2011 draft budget adopted by the Commission on 27 April 2010.
more »
European Competition Commissioner Joaquín Almunia welcomes proposed commitments by Visa Europe to significantly cut its multilateral interchange fees (MIFs) for debit card payments.
more »
Because of the Icelandic volcano, flower growers in Colombia couldn't get their stems to markets in Europe.
more »
The Second Vice President of the Spanish government and Minister of Economy and Finance, Elena Salgado, on Sunday played down the importance of apparent fissures within the EU concerning the Greek financial crisis, expressing her confidence that all countries would support the aid package for this country, which will be accompanied by a tough budget-tightening plan.
more »
Commission launches an information campaign on the CE conformity mark - designed to ease the free movement of goods around Europe and protect consumers.
more »
If Europe's airports ever open again the introduction of new security measures like body scanners will be expensive.
more »
After Eurozone Finance Ministers agreed measures to address Greece’s financial woes last Sunday, MEPs quizzed leading economic figures, including the chairman of Goldman Sachs - former financial advisors to the Greek government - on how to strengthen EU economic governance and improve reporting of national statistics.
more »
The European Tourism Stakeholders Conference, being held in Madrid today and tomorrow, will explore ways and means to strengthen the visibility of tourism at a European level and to verify how the actions to promote a competitive EU tourism industry.
more »
The European Bank for Reconstruction and Development (EBRD), World Bank Group member IFC, and The Netherlands Development Finance Company (FMO) have joined up with the Asia Debt Management Hong Kong (ADM Capital) to establish a regional fund to invest in midsize companies facing financing difficulties as a result of the financial crisis.
more »