On February 24, 1995, Barings Bank received a fax from fugitive trader Nick Leeson. In the fax, Leeson apologized for his trading losses that would ultimately bring down the 223-year-old bank and ...

By 1987 he had moved to a “back office” (that is, support) role at investment bank Morgan Stanley before taking up a similar position at Barings Bank, where one of his duties involved ...