Compliance Speaker Nick Leeson

In the mid-1980s, Nick Leeson began his banking career as a clerk with the esteemed Coutts, followed by various positions at other banks. He eventually joined Barings, quickly making a notable impression and earning a promotion to the trading floor.

Soon thereafter, Nick was appointed manager of a new futures markets operation at the Singapore Monetary Exchange (SIMEX). He started making millions for Barings by betting on the future direction of the Nikkei Index.

His superiors in London, thrilled with his massive profits, trusted the young talent. Nick and his wife Lisa enjoyed a luxurious lifestyle: a £50,000 salary with bonuses up to £150,000, weekends in exotic locations, a stylish apartment, frequent parties, and a seemingly loving relationship.

Unbeknownst to Barings, it was exposed to potential losses. Nick had claimed he was executing purchase orders on behalf of a client, but he was actually hiding all his losses in an account marked “88888.” This account initially covered a £20,000 mistake made by a junior team member, but Nick began using it to conceal his own growing losses.

As his losses escalated, Nick requested additional funds to continue trading, hoping to rectify his situation through more deals. Over three months, he purchased over 20,000 futures contracts worth about $180,000 each, attempting in vain to influence the market. Three-quarters of the $1.3 billion he lost Barings resulted from these trades.

When Barings executives discovered the situation, they informed the Bank of England that Barings was bankrupt. Ultimately, Nick's actions led to the collapse of the 233-year-old Barings Bank, an institution that proudly counted HM The Queen as a client. The $1.3 billion in liabilities exceeded the bank's entire capital and reserves.

Eventually arrested in Frankfurt, Germany, Nick spent several anxious months trying to avoid extradition to Singapore. He failed, and in December 1995, a Singapore court sentenced him to six and a half years in prison. Lisa, his wife, became an airhostess to visit him regularly.

Initially, their marriage withstood the strain of separation, but they ultimately divorced. Within months, Nick was diagnosed with colon cancer. His weight plummeted, and he lost most of his hair to chemotherapy.

After his release in 1999, despite realizing that his former lifestyle had vanished—he was effectively homeless and unemployed—Nick enjoyed a fairly indulgent first year reconnecting with friends and family while continuing his cancer treatment.

Nick Leeson has proven resilient and has capitalized on his experiences. He received a substantial fee for the newspaper serialization of his book in The Mail, which was later turned into the film "Rogue Trader" starring Ewan McGregor. In 2001, he pursued a degree in Psychology and now spends his time delivering conference and keynote talks to companies and engaging in after-dinner speaking based on his life experiences.

With a psychology degree and a second marriage to Irish beautician Leona Tormay, with her children Kersty and Alex, they were overjoyed when, in 2004, Leona gave birth to a baby boy. Nick advises, "I believe that cancer must not take over and control your life."

He also emphasizes the importance of maintaining positivity and addressing stress: "You need to talk and express yourself as I do with Leona. With cancer, as with other problems, it’s amazing how adaptable human beings are. You will be able to cope provided you keep a strong mindset."

In April 2005, Nick was appointed Commercial Manager of Galway United Football Club, advancing to General Manager in November 2005. That same year, he published his second book "Back From The Brink," co-authored with psychologist Ivan Tyrell. In July 2007, he was named CEO of the football club, a position he held until February 2011.

Speaker Topics:

Nick Leeson's standard presentation includes topics such as:

• Risk Management
• Corporate Responsibility and Governance
• Compliance, Control, and Transparency
• Managing Change and Consolidation
• Importance of Communication and Information Sharing
• Knowledge is Nothing Without Understanding
• Creating the Right Culture in the Organization
• Transparency Will Outlast Charisma - The 'Celebrity' Culture
• Technology - Focus on Analysis and Correlation, Not Just Alerts
• Information to Safeguard is Always There, It's Just Whether or Not You Use It

Conference and Keynote Speaking:

At the heart of Nick Leeson’s presentations is his personal story of the Barings Bank collapse. He speaks openly about the culture and lack of accounting safeguards that led to the bank's downfall. With many facets to his story, Nick collaborates with clients to tailor his talk to the audience, focusing on key topics and areas of interest.

Key themes include:

• Conduct
• Compliance, Control, and Transparency
• Risk Management
• Ethics
• Corporate Responsibility and Governance
• Organization and Company Culture

Addressing conferences, seminars, and summits around the world gives Nick a unique global perspective on issues affecting businesses and organizations today. He integrates this perspective into his story and presentations, ensuring his talks are current and relevant.

Stress, Wellbeing, and Mental Health:

Addressing stress, wellbeing, and mental health in the workplace is critical. Clients often seek real stories to engage their audience, and Nick Leeson’s story is both fascinating and relevant.

From opening the infamous ‘88888’ error account, to hiding his mounting losses for three years, Nick concealed his actions from colleagues, friends, family, and even his wife. Once exposed, he fled to Europe to avoid trial in Singapore but was captured in Frankfurt. He spent 9 months in prison fighting extradition before being sent back to Singapore, where he was sentenced to six years. He spent four and a half years in a gang-ridden Singapore prison, coping with 23-hour lockdowns and contemplating suicide.

While in prison, he was treated for colon cancer, which he believes was triggered by immense stress. He also dealt with a divorce from his wife Lisa, all before turning 33. Fortunately, Nick emerged resilient, creating a new life for himself.

Shortly after his release, in an effort to understand his motivations, Nick pursued a degree in psychology.

In 2005, he co-authored "Back From The Brink: Coping With Stress" with psychologist Ivan Tyrell. The book explores high-stress impacts on mental and physical health, drawing from Nick's experiences. It addresses relationship and family issues, debt, striving for success, and coping with serious illness.

Today, Nick Leeson is a sought-after speaker on the global corporate circuit. He lives with his wife Leona and their family on the west coast of Ireland.

After Dinner Speaking:

The collapse of Barings Bank and Nick Leeson’s story make for an engaging after-dinner speech. Nick's candid recounting will take the audience back to the early 90s when, at 25, he transitioned from Watford to Singapore as a derivatives trader, leading the Singapore office of England’s oldest merchant bank.

Nick takes the audience from an initial back-office error and hiding the losses, through his downfall, a failed escape to Europe, capture, and imprisonment in Singapore. It's a gripping story that inspired the bestseller "Rogue Trader" and its Hollywood movie adaptation starring Ewan McGregor.

To book compliance speaker Nick Leeson, or for more information, contact our Entertainment Specialists today.