Bankers' trust. (management misjudgment responsible for Barings collapse)(Corporate Finance)(Column): An article from: Chief Executive (U.S.)
Book Details
Author(s)Joel Kurtzman
PublisherChief Executive Publishing
ISBN / ASINB00093LMBO
ISBN-13978B00093LMB2
MarketplaceIndia 🇮🇳
Description
This digital document is an article from Chief Executive (U.S.), published by Chief Executive Publishing on May 1, 1995. The length of the article is 741 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
From the supplier: The Barings Bank fiasco is not so much about a lack of financial controls as it is about the absence of appropriate management judgment. It seems highly implausible that management did not know that Nicholas Leeson, the man being blamed for the Barings collapse, was arbitraging his risk in an unscrupulous manner if it checked the back end of his trades. Recent evidence also reveals that there is a probability that the Wunderkind from Watford, as Leeson was referred to before his downfall, actually told his bosses about the volume and substance of his Asian bets. One theory says such neglect is due to the fact that Barings is owned by a foundation, which traditionally has a weak governance system. Another holds that the class background of management, primarily composed of upper-class people who disdain looking over the mundane jobs of such people as Leeson, is also responsible.
Citation Details
Title: Bankers' trust. (management misjudgment responsible for Barings collapse)(Corporate Finance)(Column)
Author: Joel Kurtzman
Publication:Chief Executive (U.S.) (Magazine/Journal)
Date: May 1, 1995
Publisher: Chief Executive Publishing
Issue: n103 Page: p28(1)
Article Type: Column
Distributed by Thomson Gale
From the supplier: The Barings Bank fiasco is not so much about a lack of financial controls as it is about the absence of appropriate management judgment. It seems highly implausible that management did not know that Nicholas Leeson, the man being blamed for the Barings collapse, was arbitraging his risk in an unscrupulous manner if it checked the back end of his trades. Recent evidence also reveals that there is a probability that the Wunderkind from Watford, as Leeson was referred to before his downfall, actually told his bosses about the volume and substance of his Asian bets. One theory says such neglect is due to the fact that Barings is owned by a foundation, which traditionally has a weak governance system. Another holds that the class background of management, primarily composed of upper-class people who disdain looking over the mundane jobs of such people as Leeson, is also responsible.
Citation Details
Title: Bankers' trust. (management misjudgment responsible for Barings collapse)(Corporate Finance)(Column)
Author: Joel Kurtzman
Publication:Chief Executive (U.S.) (Magazine/Journal)
Date: May 1, 1995
Publisher: Chief Executive Publishing
Issue: n103 Page: p28(1)
Article Type: Column
Distributed by Thomson Gale
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