Nick Leeson

Quick Facts

Full Name	Nick Leeson
Occupation	Reality Star
Date Of Birth	Feb 25, 1967(1967-02-25)
Age	57
Birthplace	Watford
Country	United Kingdom
Birth City	England
Horoscope	Aquarius

Nick Leeson Biography

Nick Leeson is one of the most popular and richest Reality Star who was born on February 25, 1967 in Watford, England, United Kingdom. A former banker turned football club owner and became a reality star on UK’s Celebrity Big Brother. He has appeared on the 22nd season of the reality TV show.

Linda Nolan, Katie Price and Chloe Ferry have also appeared on Celebrity Big Brother. and Katie Price as well as Chloe Ferry appeared on Celebrity Big Brother.

Nick Leeson was born in Watford, Hertfordshire and attended Parmiter’s School in nearby Garston. Born to working class parents on a council estate, his father was a self-employed plasterer, his mother a nurse. After finishing sixth form in 1985 with six O Levels and two A level passes in English Literature and History with C and D grades respectively (failing his third subject, Mathematics), Leeson was hired as a clerk with the Lombard Street branch of the Coutts private bank. There, Leeson was settling paper cheques, crediting and debiting client accounts.

In 1987, Leeson moved to Morgan Stanley’s Futures and Options back office, clearing and settling listed derivatives transactions. With few prospects for a front office role, Leeson joined Barings Bank two years later, on a salary of £12,000 a year. With four other settlement specialists, he was briefly seconded to Hong Kong to troubleshoot Barings’s back office in Jakarta, Indonesia. Leeson returned to London in September 1991 to investigate a case of fraud between a client and a Barings employee. The employee had used the client’s account to trade on a proprietary basis until margin calls from the clearinghouses unraveled the scheme.

He married Leona Tormay in 2003 after he divorced Lisa Sims, his first wife.

Nick Leeson Net Worth

Nick Leeson is one of the richest Reality Star from United Kingdom. According to our analysis, Wikipedia, Forbes & Business Insider, Nick Leeson 's net worth $3 Million. (Last Update: December 11, 2023)

After graduating from high school in 1985, his first job was as an assistant at Coutts Bank. After two years at Morgan Stanley, he moved to Barings Bank in 1988.

His raudulent, unauthorised, and speculative moves were what first made him famous. He was sentenced for his actions in 1995, which led to the collapse of Barings.

Nicholas William Leeson (born 25 February 1967) is a former English derivatives trader notorious for bankrupting Barings Bank, the United Kingdom’s oldest merchant bank. He was a rogue trader who made fraudulent, unauthorized, and speculative moves, and his actions led directly to the 1995 collapse of the bank, for which he was sentenced to prison.

Height, Weight & Body Measurements

Nick Leeson height Not available right now. Nick weight Not Known & body measurements will update soon.

Who is Nick Leeson Dating?

According to our records, Nick Leeson married to Leona Tormay , Lisa Leeson. As of December 1, 2023, Nick Leeson’s is not dating anyone.

Relationships Record : We have no records of past relationships for Nick Leeson. You may help us to build the dating records for Nick Leeson!

The beginning of the end occurred on 16 January 1995, when Leeson placed a short straddle in the Singapore and Tokyo stock exchanges, essentially betting that the Japanese stock market would not move significantly overnight. However, the Kobe earthquake hit early in the morning on 17 January, sending Asian markets, and Leeson’s trading positions, into a tailspin. Leeson attempted to recoup his losses by making a series of increasingly risky new trades (using a long-long future arbitrage), this time betting that the Nikkei Stock Average would make a rapid recovery. However, the recovery failed to materialise.

Facts & Trivia

Nick Ranked on the list of most popular Reality Star. Also ranked in the elit list of famous people born in United Kingdom. Nick Leeson celebrates birthday on February 25 of every year.

Leeson pleaded guilty to two counts of “deceiving the bank’s auditors and of cheating the Singapore exchange”, including forging documents. Sentenced to six and a half years in Changi Prison in Singapore; he was released in 1999, having been diagnosed with colon cancer, which he survived despite grim forecasts at the time. In 1996, Leeson published an autobiography, Rogue Trader, detailing his acts. A review in the financial columns of The New York Times stated, “This is a dreary book, written by a young man very taken with himself, but it ought to be read by banking managers and auditors everywhere.” In 1999, the book was made into a film of the same name starring Ewan McGregor and Anna Friel. The events also form the subject matter of a 1996 television documentary made by Adam Curtis, titled Inside Story Special: £830,000,000 – Nick Leeson and the Fall of the House of Barings.

Top Facts about Nick Leeson

1. Nick Leeson caused the collapse of Barings Bank in 1995.
2. He made unauthorized trades that resulted in losses of £827 million.
3. Leeson fled to Malaysia before being arrested and extradited to Singapore.
4. He was sentenced to six and a half years in prison.
5. Leeson wrote a book about his experiences called “Rogue Trader”.
6. The story was adapted into a movie starring Ewan McGregor.
7. Leeson now works as a motivational speaker and consultant.
8. His actions led to increased regulation of financial institutions.
9. The scandal highlighted the risks of unchecked trading practices.
10. It remains one of the most infamous financial scandals in history.

What happened to Nick Leeson?

Eventually arrested in Frankfurt, Germany, Nick spent a few fraught months trying to escape extradition to Singapore. He failed and in December 1995 a court in Singapore sentenced him to six and a half years in prison. Lisa his wife got a job as an airhostess to be able to visit him regularly.

Is rogue trader a true story?

Rogue Trader tells the true story of Nick Leeson , a young employee of Barings Bank who after a successful spell working for the firm’s office in Indonesia is sent to Singapore as General Manager of the Trading Floor on the SIMEX exchange. The movie follows Leeson’s rise as he soon becomes one of Barings’ key traders.

How did Leeson break Barings?

These were unauthorised trades which he hid in an account named Error Account 88888. He also used this account to execute all his unauthorised trades in Japanese Government Bond and Euroyen futures and Nikkei 225 options: together these trades were so large that they ultimately broke Barings.

How did Barings Bank collapse?

The collapse of Barings Bank was caused by colossal losses incurred by a single rogue trader. Nick Leeson, the bank’s then 28-year-old head of derivatives in Singapore, gambled more than $1 billion in unhedged, unauthorized speculative trades, an amount which dwarfed the venerable merchant bank’s cash reserves.

What did Leeson use the banks money to do?

He says that this account was first used to hide an error made by one of his subordinates; she had been assigned to buy twenty futures contracts for Fuji Bank, but had sold them instead, costing Barings £20,000. However, Leeson used this error account to cover further bad trades by himself and others.