Barings Bank
/ˌbeərɪŋz ˈbæŋk/
/ˌberɪŋz ˈbæŋk/
- a global investment bank (= bank that deals with large businesses) that was formed in London in 1762. It stopped trading in 1995 after an employee, Nick Leeson, lost over £250 million while trading in an illegal way in Singapore. The bank was bought by a Dutch company, ING, and began trading again. Leeson was sent to prison in Singapore in 1995 and was released in 1999.
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Barings Bank