Sunday 17 December 2017

Leeson says 'sorry' to Barings' boss

Robert Dex in London

Rogue trader Nick Leeson came face to face with his old boss for the first time since he single-handedly destroyed the centuries-old Barings Bank and offered him a "genuine" apology.

Mr Leeson (right), whose risk-taking deals brought the bank crashing down, met Peter Norris during a BBC radio show.

He said: "Remorse is a word that is bandied around an awful lot, but I am sorry and my apology to Peter is genuine."

Mr Leeson was sentenced to six-and-a-half years in a Singaporean jail for his crimes and now lives in Galway.

Mr Leeson's early career was a success but things began to unravel when he started making losses and set up a secret account to hide them.

He started taking more risks in an attempt to recoup his losses but eventually he fled leaving behind losses of $1.3bn (€910m) and a note on his desk saying: "I'm sorry."

Mr Norris, who had not met Mr Leeson since the bank's collapse, recalled seeing the first TV pictures of him as he was taken into custody at Frankfurt airport in 1995.

He told him: "I think I wanted to punch your lights out".

Irish Independent

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