#117 - Nick Leeson - I Lost £862 Million and Collapsed a Bank
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#117 - Nick Leeson - I Lost £862 Million and Collapsed a Bank
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About this listen
In 1995, 28-year-old trader Nick Leeson caused the collapse of Barings Bank after racking up £862 million in hidden losses. He fled Singapore, was arrested in Frankfurt, extradited and served over 4 years in a Singaporean prison.
We cover:
– How it started with a £10K loss
– What went wrong, who knew & how it was hidden
– Why the bank kept giving him money
– Being on the run
– Life in prison & how it changed him
– Reflecting on success, failure & fatherhood
CONTACT PETE
› Website - http://petermccormack.com
› Feedback - https://www.petermccormack.com/contact
› Email - me@petermccormack.com
› Instagram - /mccormack555
› X/Twitter - https://x.com/petermccormack/
CONNECT WITH NICK LEESON
› X/Twitter - https://x.com/TheNickLeeson
SPONSORS
› IREN - https://www.iren.com/
› Ledger - https://www.ledger.com/
› Gemini - https://gemini.com/
› Casa - https://casa.io/
› Incogni - https://incogni.com/peter
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TIMESTAMPS:
00:00:00 – Intro
00:06:00 – From Maths Failure to Banker
00:08:18 – Headhunted by Barings
00:10:15 – Entering the Trading Pit
00:14:33 – The First £10K Loss
00:21:23 – Fear of Failure
00:26:35 – He Was Half the Market
00:35:18 – Options Strategy to Survive
00:39:41 – From £20M Loss to Breakeven
00:47:29 – Barings Sends All Their Cash
00:51:04 – It Was a Confidence Trick
00:55:01 – The Moment He Fled
01:00:00 – Headlines Hit the Newsstands
01:02:24 – Getting Caught
01:05:39 – Arrested on the Tarmac
01:08:29 – Jail in Germany
01:11:00 – Prison, Introspection & Change
01:13:31 – Did Anyone Lose Money?
01:20:30 – Life After Prison
01:23:32 – Speaking, Rebuilding & Psychology
01:25:42 – Letting Go of the Past
01:27:47 – Being a Dad Now
01:35:23 – Closing Thoughts
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LISTEN / SUBSCRIBE TO THE PODCAST
› Apple Podcasts: https://apple.co/40ruY9K
› Spotify: https://spoti.fi/3Wc94Vu
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› YouTube: https://bit.ly/YouTube_PM
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FILMED BY CURTIS TAYLOR
› https://www.curttaylor.co.uk/
› https://x.com/curttayloruk/
EDITED BY CONOR MCCORMACK
› https://x.com/ConorM04
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