Editing Nick Leeson

{{short description|English former derivatives trader (born 1967)}}
{{About|the derivatives broker|the racing driver|Nick Leason}}
{{Use dmy dates|date=February 2021}}
{{Use British English|date=March 2014}}
{{Infobox person
| name               = Nick Leeson
| birth_name         = Nicholas William Leeson
| birth_date         = {{Birth date and age|1967|02|25|df=yes}}
| birth_place        = [[Watford]], [[Hertfordshire]], England, UK
| education          = [[Parmiter's School]]
| occupation         = {{Ubl
  |CEO of Irish football club [[Galway United F.C.|Galway United]] (former)
  |[[derivative (finance)|Derivatives]] broker (former)
  |Head Educator at Bizintra (former)
  |CEO of Bull and Bear Capital (current)
}}
| spouse             = {{Ubl
  |{{Marriage|Lisa Sims|1992|1997|end=div}}<ref>{{cite news|url=http://news.bbc.co.uk/2/hi/uk_news/147099.stm|title=Leeson to have cancer operation|date=8 August 1998|publisher=[[BBC News]]|access-date=26 November 2012|archive-date=3 August 2013|archive-url=https://web.archive.org/web/20130803070849/http://news.bbc.co.uk/2/hi/uk_news/147099.stm|url-status=live}}</ref>
  |{{Marriage|Leona Tormay|2003}}
}}
| website            = {{URL|nickleeson.com}}
}}

'''Nicholas William Leeson'''<ref name="bio_p2">{{cite web|date=1 March 2011|title=Nick Leeson: biography part II|url=http://www.nickleeson.com/biography/full_biography_02.html|access-date=23 February 2012|archive-date=5 February 2012|archive-url=https://web.archive.org/web/20120205155014/http://www.nickleeson.com/biography/full_biography_02.html|url-status=live}}</ref> (born 25 February 1967) is an English former [[derivative (finance)|derivatives]] [[Trader (finance)|trader]] whose fraudulent, unauthorised and [[speculation|speculative]] trades resulted in the 1995 collapse of [[Barings Bank]], the United Kingdom's second oldest [[merchant bank]]. He was convicted of [[financial crime]] in a [[Singapore]] court and served over four years in [[Changi Prison]].

Between 2005 and 2011, Leeson had senior management roles at [[League of Ireland]] club [[Galway United F.C.|Galway United]]. After it suffered financial difficulties, he resigned from his position as chief executive officer. Leeson is also active on the keynote and after-dinner speaking circuit, where he advises companies about risk and [[corporate responsibility]]. Leeson is currently a [[private investigator]] in charge of dealing with cases of financial misconduct.

==Early life==
Nick Leeson was born in [[Watford]], [[Hertfordshire]], to working-class parents on a [[council estate]]. His father was a self-employed plasterer, his mother a nurse. He attended [[Parmiter's School]] in nearby [[Garston, Hertfordshire|Garston]]. After finishing sixth form in 1985 with six [[GCE Ordinary Level|O Levels]] and two [[GCE Advanced Level|A level]] passes,<ref>{{Cite book|last=Rawnsley|first=Judith H|url=https://archive.org/details/totalrisknicklee00rawn/page/88|title=Total Risk: Nick Leeson and the Fall of Barings Bank|publisher=HarperCollins|year=1996|isbn=9780887307812|location=University of Michigan|pages=[https://archive.org/details/totalrisknicklee00rawn/page/88 88]}}</ref><ref>{{Cite web|last=Powell|first=Robin|date=10 July 2015|title=4 Lessons to Learn From Nick Leeson|url=https://www.evidenceinvestor.com/4-lessons-to-learn-from-nick-leeson/|access-date=13 September 2019|archive-date=31 March 2022|archive-url=https://web.archive.org/web/20220331123852/https://www.evidenceinvestor.com/4-lessons-to-learn-from-nick-leeson/|url-status=live}}</ref> Leeson was hired as a clerk with the Lombard Street branch of the [[Coutts]] private bank,<ref>{{Cite web|last=Michael|first=Costello|date=6 June 2011|title=The original rogue trader: interview with Nick Leeson|url=https://www.hrmagazine.co.uk/article-details/the-original-rogue-trader-interview-with-nick-leeson|access-date=13 September 2019|archive-date=11 August 2023|archive-url=https://web.archive.org/web/20230811224047/https://www.hrmagazine.co.uk/content/features/the-original-rogue-trader-interview-with-nick-leeson|url-status=live}}</ref> where he settled paper cheques, crediting and debiting client accounts.<ref>{{Cite book|last=Elga|first=Drummond|title=The Dynamics of Organizational Collapse: The Case of Barings Bank|publisher=Routledge|year=2007|isbn=9780415399616|pages=20}}</ref>

In 1987, Leeson moved to [[Morgan Stanley]]'s Futures and Options [[back office]], clearing and settling listed [[derivative (finance)|derivatives]] transactions. With few prospects for a front office role, he joined [[Barings Bank]] two years later, at £12,000 ({{Inflation|UK|12000|1987|fmt=eq|cursign=£}}) a year. With four other settlement specialists, Leeson was briefly seconded to [[British Hong Kong|Hong Kong]] to troubleshoot Barings' back office in the Indonesian capital of [[Jakarta]]. He was then transferred to Baring's Jakarta office in 1990, handling some of Barings' unpaid share certificates which amounted to £100 million.<ref name="RogueTrader" /> Leeson returned to [[London]] in September 1991 to investigate a case of [[fraud]] in which a Barings employee had used a client's account to trade on a proprietary basis until [[margin call]]s from the clearinghouses unraveled the scheme.<ref>{{Cite book|last=Laurent|first=Jacque|title=Global Derivative Debacles: From Theory To Malpractice|publisher=World Scientific Publishing Company|year=2015|isbn=9789814699891|edition=Second|pages=146}}</ref>

==Career==
===Barings Bank===
In April 1992, Barings decided to open a Futures and Options office in Singapore, executing and clearing transactions on the [[Singapore International Monetary Exchange]] (SIMEX).<ref name="nytimes">{{cite news|author=Floyd Norris|date=31 March 1996|title=Upper-Class Twits Made Me Do It|newspaper=[[New York Times]]|url=https://www.nytimes.com/1996/03/31/books/upper-class-twits-made-me-do-it.html|access-date=23 February 2012|archive-date=28 August 2011|archive-url=https://web.archive.org/web/20110828155742/http://www.nytimes.com/1996/03/31/books/upper-class-twits-made-me-do-it.html|url-status=live}}</ref> Barings had held a seat on SIMEX for some time but did not activate it until Leeson, appointed general manager, was sent to head both front office and back office operations. Prior to leaving, Leeson was denied a [[broker]]'s licence in the UK because of committing fraud on his application, having failed to report a judgment against him entered by the [[NatWest|National Westminster Bank]].<ref>{{cite book|last=Maeda|first=Martha|url=https://books.google.com/books?id=EuLrXWaOdSIC&pg=PT31|title=The Complete Guide to Spotting Accounting Fraud & Cover-ups|publisher=Atlantic Publishing Company|year=2010|isbn=978-1-60138-212-2|page=31|access-date=18 November 2019|archive-date=11 August 2023|archive-url=https://web.archive.org/web/20230811224041/https://books.google.com/books?id=EuLrXWaOdSIC&pg=PT31|url-status=live}}</ref> Neither Leeson nor Barings disclosed this denial when he applied for his licence in Singapore.<ref>{{cite book|author=Hal S. Scott|title=International Finance: Transactions, Policy, and Regulation|publisher=[[Foundation Press]]|year=2006|isbn=978-1-59941-263-4}}</ref>

From 1992, Leeson made unauthorised [[speculation|speculative]] trades that initially made large profits for Barings: £10 million, which accounted for 10% of Barings' annual profit.<ref>{{cite web|date=1 March 2011|title=Nick Leeson: biography part I|url=http://www.nickleeson.com/biography/full_biography.html|access-date=23 February 2012|archive-date=5 February 2012|archive-url=https://web.archive.org/web/20120205154901/http://www.nickleeson.com/biography/full_biography.html|url-status=live}}</ref> He earned a bonus of £130,000 on his salary of £50,000 for that year. Leeson used one of Barings' [[error account]]s (accounts used to correct mistakes made in trading) to hide his losses.<ref>{{cite news|date=22 June 1999|title=How Leeson broke the bank|publisher=BBC News|url=http://news.bbc.co.uk/1/hi/business/375259.stm|access-date=6 September 2018|archive-date=25 August 2017|archive-url=https://web.archive.org/web/20170825213649/http://news.bbc.co.uk/1/hi/business/375259.stm|url-status=live}}</ref><ref>{{cite news|date=16 February 1996|title=How account 88888 sank Britain's oldest bank|newspaper=[[The Independent]]|url=https://www.independent.co.uk/news/business/how-account-88888-sank-britains-oldest-bank-1319275.html |archive-url=https://ghostarchive.org/archive/20220620/https://www.independent.co.uk/news/business/how-account-88888-sank-britains-oldest-bank-1319275.html |archive-date=20 June 2022 |url-access=subscription |url-status=live}}</ref> He later stated that this account was first used to hide an error made by a subordinates who had been assigned to buy twenty [[futures contract]]s for [[Fuji Bank]] but sold them instead, costing Barings £20,000.<ref>{{cite news|date=24 February 1996|title=The man who broke the queen's bank|newspaper=[[The Irish Times]]|url=https://www.irishtimes.com/news/the-man-who-broke-the-queen-s-bank-1.31807|access-date=6 September 2018|archive-date=11 December 2022|archive-url=https://web.archive.org/web/20221211233113/https://www.irishtimes.com/news/the-man-who-broke-the-queen-s-bank-1.31807|url-status=live}}</ref><ref>{{cite news|date=19 August 2012|title=Barings rogue trader Nick Leeson: 'Money is not my motivation'|newspaper=[[The Daily Telegraph]]|url=https://www.telegraph.co.uk/finance/personalfinance/fameandfortune/9483379/Barings-rogue-trader-Nick-Leeson-Money-is-not-my-motivation.html|access-date=6 September 2018|archive-date=6 September 2018|archive-url=https://web.archive.org/web/20180906233651/https://www.telegraph.co.uk/finance/personalfinance/fameandfortune/9483379/Barings-rogue-trader-Nick-Leeson-Money-is-not-my-motivation.html|url-status=live}}</ref><ref name="RogueTrader">{{cite book|last1=Leeson|first1=Nick|title=[[Rogue Trader (book)|Rogue Trader]]: How I Brought Down Barings Bank and Shook the Financial World|last2=Whitley|first2=Edward|year=1996|isbn=0-316-51856-5|page=}}{{page?|date=August 2021}}</ref>

Leeson used this error account to cover further bad trades by himself and others. For example, he used it to cover mistakes made by one of his traders who frequently came to work after long nights of partying. Leeson believes that he first crossed into out-and-out criminal conduct when he forgot to reconcile a discrepancy of 500 contracts, costing Barings US$1.7 million. He concluded that the only way to hide such a massive error and keep his job was to hide it in the error account.<ref name=RogueTrader/> Leeson insists that he never used the account for his own gain, but in 1996 investigators had located approximately $35 million in various bank accounts tied to him.<ref name="nytimes" />

===Downfall and imprisonment===
By the end of 1992, the error account's losses exceeded £2 million, increasing to £23 million in late 1993. This amount then ballooned to £208 million by the end of 1994.<ref name="NF">{{cite web|last=Monthe|first=Paul|date=February 2007|title=How Nick Leeson caused the collapse of Barings Bank|url=https://www.next-finance.net/How-Nick-Leeson-caused-the|access-date=4 December 2018|publisher=Next Finance|archive-date=4 December 2018|archive-url=https://web.archive.org/web/20181204195138/https://www.next-finance.net/How-Nick-Leeson-caused-the|url-status=live}}</ref> Leeson had followed a [[Martingale (betting system)|"doubling" strategy]]: every time he lost money, he would bet double the amount that was lost to recoup the amount. This had been successful for him in the past, including once in 1993 where he was able to cover a £6 million negative balance in the error account and after which he vowed not to use the account again. Leeson had to maintain his reputation as a trading genius and soon found himself hiding his losses there again. As the losses grew higher, Leeson fabricated cover stories to explain why he needed more cash from London; his sterling reputation protected him from close scrutiny.<ref>{{cite book|last=Marthinsen|first=John E.|title=Risk Takers|date=2018|publisher=De Gruyter|isbn=9781547400058|pages=200–204|chapter=Barings Bank PLC: Leeson's Lessons}}</ref>

The beginning of the end occurred on 16 January 1995, when Leeson placed a [[short straddle]] in the [[Stock Exchange of Singapore|Singapore]] and [[Tokyo stock exchange|Tokyo]] [[stock exchange]]s, essentially betting that the Japanese stock market would not move significantly overnight. The [[Great Hanshin earthquake]] hit early in the morning on 17 January, sending Asian markets, and Leeson's trading positions, downward. 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. The recovery failed to materialise.<ref name="NF"/>

Leeson left a note reading, "I'm sorry" and fled Singapore on 23 February. Losses eventually reached £827 million ([[US dollar|US$]]1.4 billion), twice Barings' available trading capital. After a failed [[bailout]] attempt, Barings, which had been the UK's oldest [[merchant bank]], was declared insolvent on 26 February.<ref name="25 Million Pounds">{{cite web|date=27 December 2009|title=25 Million Pounds|url=http://documentarystorm.com/25-million-pounds/|url-status=dead|archive-url=https://web.archive.org/web/20120329221650/http://documentarystorm.com/25-million-pounds/|archive-date=29 March 2012|access-date=23 February 2012}}</ref> After fleeing to Malaysia, Thailand and finally Germany, Leeson was arrested in [[Frankfurt]] and [[extradition|extradited]] to Singapore on 20 November 1995.<ref>{{cite web|title=Bonn approves Leeson's extradition|url=http://eresources.nlb.gov.sg/newspapers/Digitised/Article/straitstimes19951115-1.2.65.9|access-date=4 December 2018|archive-date=4 December 2018|archive-url=https://web.archive.org/web/20181204152031/http://eresources.nlb.gov.sg/newspapers/Digitised/Article/straitstimes19951115-1.2.65.9|url-status=live}}</ref>

Leeson pleaded guilty to two counts of "deceiving the bank's auditors and of cheating the Singapore exchange",<ref name="bio_p2" /> including [[forgery|forging]] documents.<ref>{{cite web|title=Nick Leeson: Rogue Trader|url=http://www.crimeandinvestigation.co.uk/crime-files/nick-leeson-rogue-trader/biography.html|publisher=[[Crime & Investigation Network]]|access-date=24 February 2012|archive-date=2 February 2012|archive-url=https://web.archive.org/web/20120202220705/http://www.crimeandinvestigation.co.uk/crime-files/nick-leeson-rogue-trader/biography.html|url-status=live}}</ref> District judge Richard Magnus convicted Leeson and sentenced him to six and a half years in [[Changi Prison]] in Singapore.<ref>{{cite news | url = https://www.nytimes.com/1995/12/02/business/international-business-singapore-sentences-leeson-to-6-1-2-years-in-prison.html | title = Singapore Sentences Leeson to 6 1/2 Years in Prison | access-date = 6 December 2021 | date = 2 December 1995 | work = The New York Times | archive-date = 6 December 2021 | archive-url = https://web.archive.org/web/20211206063752/https://www.nytimes.com/1995/12/02/business/international-business-singapore-sentences-leeson-to-6-1-2-years-in-prison.html | url-status = live }}</ref>  Leeson was released in July 1999 after serving at least two-thirds of his sentence (4 years and 4 months) for good behaviour, and having been diagnosed with [[colon cancer]], which he survived despite grim forecasts. In 1996, Leeson published an autobiography, ''[[Rogue Trader (book)|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."<ref name="nytimes" /> In 1999, the book was made into a [[Rogue Trader (film)|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 ''[[£830,000,000 – Nick Leeson and the Fall of the House of Barings|Inside Story Special: £830,000,000 – Nick Leeson and the Fall of the House of Barings]]''.<ref>{{cite web|title=Inside Story Special – BBC One London – 12 June 1996|url=http://genome.ch.bbc.co.uk/7db623095e6d43828dcf52d002195022|work=[[BBC Genome]]|access-date=20 October 2015|archive-date=6 January 2016|archive-url=https://web.archive.org/web/20160106081330/http://genome.ch.bbc.co.uk/7db623095e6d43828dcf52d002195022|url-status=live}}</ref>

==Post-release career==
In 2003, as a mature student, Leeson completed a BSc in Psychology at [[Middlesex University]]. He is a guest on the after-dinner and keynote speaking circuits,<ref>{{cite news|last=Culshaw|first=Peter|date=8 January 2009|title=Nick Leeson Lecturing Others on The Current Recession|newspaper=[[The Daily Telegraph]]|location=London|url=https://www.telegraph.co.uk/finance/4177449/Nick-Leeson-how-the-original-rogue-trader-at-Barings-Bank-is-thriving-in-the-credit-crunch.html|access-date=23 February 2012|archive-date=16 June 2012|archive-url=https://web.archive.org/web/20120616112302/http://www.telegraph.co.uk/finance/4177449/Nick-Leeson-how-the-original-rogue-trader-at-Barings-Bank-is-thriving-in-the-credit-crunch.html|url-status=live}}</ref><ref>{{cite news|title=Nick Leeson: Infamous Rogue Trader Responsible For The Collapse of Barings Bank In 1995|url=http://www.nmplive.co.uk/viewTalent.aspx?TalentID=1243|url-status=dead|access-date=23 February 2012|archive-url=https://web.archive.org/web/20120404180223/http://www.nmplive.co.uk/viewTalent.aspx?TalentID=1243|archive-date=4 April 2012}}</ref> stating in 2019 that "two events a month is enough to keep me in the manner to which I'm accustomed".<ref name="carroll20190702">{{Cite news |last=Carroll |first=Rory |date=2019-07-02 |title=Nick Leeson: lucrative new life of banking's most notorious rogue |language=en |work=The Guardian |url=http://www.theguardian.com/business/2019/jul/02/nick-leeson-new-life-banking-notorious-rogue |access-date=2022-09-11 |archive-date=17 September 2022 |archive-url=https://web.archive.org/web/20220917054811/https://www.theguardian.com/business/2019/jul/02/nick-leeson-new-life-banking-notorious-rogue |url-status=live }}</ref> Leeson still deals in stock markets, but only with his own money.<ref name="bbc_rogue">{{cite news|date=7 March 2007|title=Rogue trader Leeson 'eyes deals'|publisher=BBC News|url=http://news.bbc.co.uk/2/hi/business/6426519.stm|access-date=23 February 2012|archive-date=8 February 2012|archive-url=https://web.archive.org/web/20120208115610/http://news.bbc.co.uk/2/hi/business/6426519.stm|url-status=live}}</ref>

===Galway United F.C.===
Leeson was appointed commercial manager of [[Galway United F.C.]] in April 2005, rising to the position of general manager in November 2005.<ref name="bbc_rogue" /> By July 2007 he had become the club's chief executive officer. In February 2011, after the club encountered financial problems, he resigned his position.<ref>{{cite news|author=Brendan White|date=2 February 2011|title=Leeson resigns Galway Utd CEO position|url=http://www.extratime.ie/newsdesk/articles/4865/|url-status=dead|access-date=23 February 2012|archive-url=https://web.archive.org/web/20120514034618/http://www.extratime.ie/newsdesk/articles/4865|archive-date=14 May 2012}}</ref>

===Investigator of financial misconduct===
In March 2023, Leeson joined Red Mist Market Enforcement Unit, a corporate intelligence firm run by former [[Black Cube]] operative Seth Freedman, and turned into an investigator of financial misconduct cases.<ref>{{cite news|date=22 March 2023|location=Singapore|work=The Straits Times|title=Rogue trader Nick Leeson who brought down a bank turns investigator of financial misdeeds|url=https://www.straitstimes.com/business/former-british-rogue-trader-who-served-time-in-s-pore-prison-reemerges-as-a-private-spy|access-date=22 March 2023|archive-date=22 March 2023|archive-url=https://web.archive.org/web/20230322145915/https://www.straitstimes.com/business/former-british-rogue-trader-who-served-time-in-s-pore-prison-reemerges-as-a-private-spy|url-status=live}}</ref>

===Media appearances===
In June 2005, Leeson released a new book, ''Back from the Brink: Coping with Stress''. It picks up his story where ''Rogue Trader'' left off, including in-depth conversations with psychologist [[Ivan Tyrrell]]. In 2013 he appeared in ''[[Celebrity Apprentice Ireland]]'' on [[TV3 (Ireland)|TV3]].<ref>{{cite web|title=Judges and Contestants|url=http://www.tv3.ie/shows_contestants.php?request=thecelebrityapprentice|url-status=dead|archive-url=https://web.archive.org/web/20130927210701/http://www.tv3.ie/shows_contestants.php?request=thecelebrityapprentice|archive-date=27 September 2013|access-date=25 September 2013|work=TV3.ie}}</ref>

In July 2015, Singapore's national daily newspaper ''[[The Straits Times]]'' published an e-book titled ''Guilty As Charged: 25 Crimes That Have Shaken Singapore Since 1965'', which included the Nick Leeson case as one of the top 25 crimes that shocked the nation since its independence in 1965. The book was borne out of collaboration between the Singapore Police Force and the newspaper itself. The paperback edition of the book was published and first appeared on the bookshelves in late June 2017. The paperback edition first entered the ST bestseller list on 8 August 2017, a month after its publication.<ref>{{Cite news|date=14 May 2016|title=Guilty As Charged: Shocking crimes that have shaken Singapore since 1965|website=The Straits Times|url=https://www.straitstimes.com/singapore/courts-crime/guilty-as-charged-25-crimes-that-have-shaken-singapore-since-1965|access-date=6 January 2021|archive-date=15 May 2016|archive-url=https://web.archive.org/web/20160515111637/https://www.straitstimes.com/singapore/courts-crime/guilty-as-charged-25-crimes-that-have-shaken-singapore-since-1965|url-status=live}}</ref><ref>{{Cite news|date=8 August 2017|title=Guilty As Charged: 25 crimes that shook Singapore|website=The Straits Times|url=https://www.straitstimes.com/lifestyle/arts/guilty-as-charged-25-crimes-that-shook-singapore|access-date=6 January 2021|archive-date=11 August 2017|archive-url=https://web.archive.org/web/20170811234031/https://www.straitstimes.com/lifestyle/arts/guilty-as-charged-25-crimes-that-shook-singapore|url-status=live}}</ref><ref>{{Cite web|title=Guilty As Charged: Rogue trader Nick Leeson brought down Britain's oldest merchant bank Barings|url=https://www.straitstimes.com/singapore/courts-crime/guilty-as-charged-rogue-trader-nick-leeson-brought-down-britains-oldest|date=15 May 2016|access-date=6 January 2021|website=The Straits Times|archive-date=8 January 2021|archive-url=https://web.archive.org/web/20210108152508/https://www.straitstimes.com/singapore/courts-crime/guilty-as-charged-rogue-trader-nick-leeson-brought-down-britains-oldest|url-status=live}}</ref>

On 5 April 2007, ''[[The Guardian]]'' reported that [[KPMG]], the liquidators of Barings, had sold a [[trading jacket]] thought to have been worn by Leeson while trading on SIMEX in Singapore. The jacket was offered for sale on [[eBay]] but it failed to reach its reserve price despite a highest bid of £16,100. It was subsequently sold for £21,000.<ref>{{cite news|last=Wearden|first=Graeme|date=5 April 2007|title=Nick Leeson's jacket raises £21,000|newspaper=[[The Guardian]]|location=London|url=https://www.theguardian.com/business/2007/apr/05/money1|access-date=23 February 2012|archive-date=3 April 2010|archive-url=https://web.archive.org/web/20100403235026/http://www.guardian.co.uk/business/2007/apr/05/money1|url-status=live}}</ref> In October 2007 a similar jacket used by Leeson's team but not thought to have been worn by Leeson himself sold at auction for £4,000.<ref>{{cite web|date=16 October 2007|title=Howard makes his mark at Norwood's Distressed Investing Dinner|url=http://www.norwood.org.uk/contact-us/pr-media/newsarchive/2007/Fundraising+News/distressed_investing_dinner_2007.htm|url-status=dead|archive-url=https://web.archive.org/web/20120225163904/http://www.norwood.org.uk/contact-us/pr-media/newsarchive/2007/Fundraising+News/distressed_investing_dinner_2007.htm|archive-date=25 February 2012|access-date=23 February 2012|publisher=[[Norwood (charity)|Norwood]]}}</ref>

His name is mentioned in the credits of ''[[Rogue Trader (film)|Rogue Trader]]'' together with Barings Bank losses of US$1,400,000,000.

== Personal life ==
Leeson married Lisa Sims, later also known as Lisa Leeson, on March 21 1992. The couple met in Jakarta, where both were working on Barings [[Jakarta]]'s office in 1990.<ref name="RogueTrader" /> Sims resigned from Barings Bank following her marriage to Leeson.

The couple divorced in 1997, a year after Leeson's arrest. Sims later worked as a flight attendant for [[Virgin Atlantic]].<ref name="RogueTrader" />

In 2003, four years after his release from Changi Prison, Leeson married Leona Tormay, an Irish [[Cosmetology#Esthetician|beautician]].<ref>{{cite news |last=McDonald |first=Brian |date=14 June 2003 |title=Rogue trader Leeson ties knot with Irish love |newspaper=[[Irish Independent]] |url=http://www.independent.ie/national-news/rogue-trader-leeson-ties-knot-with-irish-love-217095.html |url-status=live |access-date=23 February 2012 |archive-url=https://web.archive.org/web/20120124105634/http://www.independent.ie/national-news/rogue-trader-leeson-ties-knot-with-irish-love-217095.html |archive-date=24 January 2012}}</ref>

He lives in [[Galway]] as of 2023.<ref>{{cite news|date=22 March 2023|work=The Guardian|title=Former ‘rogue trader’ Nick Leeson joins corporate private eye firm|url=https://www.theguardian.com/business/2023/mar/22/former-rogue-trader-nick-leeson-joins-corporate-private-eye-firm|access-date=22 March 2023|archive-date=22 March 2023|archive-url=https://web.archive.org/web/20230322150145/https://www.theguardian.com/business/2023/mar/22/former-rogue-trader-nick-leeson-joins-corporate-private-eye-firm|url-status=live}}</ref>

==Works==
* {{cite book|title=[[Rogue Trader (book)|Rogue Trader]]: How I Brought Down Barings Bank and Shook the Financial World|first1=Nick|last1=Leeson|first2=Edward|last2=Whitley|year= 1996|isbn=0-316-51856-5}}
* {{cite book|title=Back from the Brink: Coping with Stress|first1=Nick|last1=Leeson|first2=Ivan|last2=Tyrrell | author2-link = Ivan Tyrrell|date=2005|isbn=0-7535-1075-8}}

==See also==
* [[Chia Teck Leng]]
* [[Clarence Hatry]]
* [[Bill Hwang]]
* [[Speculation]] in financial markets
* [[List of trading losses]]
* [[Jérôme Kerviel]]
* [[Kweku Adoboli]]
* [[Toshihide Iguchi]]
* [[Galway United]]
* [[CITIC Group]]
* [[White collar crime]]

==References==
{{Reflist|30em}}

==External links==
* {{Official website|http://www.nickleeson.com}}
* {{IMDb name|0498776}}
* {{cite news|url=https://www.theguardian.com/profile/nickleeson|title=Nick Leeson|newspaper=[[The Guardian]] | date=19 September 2008}}
* {{cite news|url=http://news.bbc.co.uk/2/hi/business/4288271.stm|title=Leeson's legacy lives on in Singapore
|date=23 February 2005|author=Malcolm Borthwick|publisher=BBC News}}
* {{cite news|url=http://news.bbc.co.uk/2/hi/business/375259.stm|title=Business: The Economy How Leeson broke the bank|date=22 June 1999|publisher=BBC News}}
* {{cite web|url=http://www.galwayunitedfc.ie|title=Galway United Football Club}}
* {{cite web|url=http://singapore.thinkexpats.com/places/67-uniquely-singapore/90-singapores-most-infamous-convicts.html?start=2|title=Singapore's Most Famous Convicts – Bank Bust|author=Adeline Loh|url-status=dead|archive-url=https://web.archive.org/web/20160303233608/http://singapore.thinkexpats.com/places/67-uniquely-singapore/90-singapores-most-infamous-convicts.html?start=2|archive-date=3 March 2016}}

{{Authority control}}

{{DEFAULTSORT:Leeson, Nick}}
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