Firm hires rogue trader Leeson

AFP-JIJI

Nick Leeson, the British trader whose losses toppled Barings Bank in the 1990s, has joined Irish mediation group GDP Partnership to help borrowers negotiate with banks in the wake of the nation’s property crash.

“Nick Leeson today joins GDP Partnership as a principal of their Dublin office,” the group said in a statement posted by Leeson on his Twitter account.

“Leeson, famed for his role in the collapse of Barings Bank, this week will be joining the practice and . . . will be instrumental in providing this mediation service to anyone who is struggling to find a solution with their bank across the country,” it added.

Leeson’s risk-taking deals bankrupted Britain’s Barings Bank in 1995 after losing $1.3 billion on bond derivatives.