Multiple choice general knowledge

Who was the responsible for the collapse of Barings Bank?

  1. Harold Stwert

  2. Dan Morris

  3. Nick Leeson

  4. None of These

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Nick Leeson, a derivatives trader in Singapore, caused the collapse of Barings Bank (Britain's oldest merchant bank) in 1995 through unauthorized speculative trading that lost £827 million. His risky bets on the Japanese derivatives market, concealed in a hidden 'error account', ultimately destroyed the 233-year-old institution.