Barings May Be Headed For The History Books
When ING Group, the Dutch banking and insurance behemoth, bought London's Barings investment bank five years ago for a single British pound, it thought it was getting a great bargain. Barings had been nearly bankrupted by a rogue trader in its Singapore office named Nick Leeson. ING wanted to use Barings' extensive international network as a base for the global expansion of its own investment-banking business.
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