Ex-Trader Leeson Joins Distressed-Debt Adviser, Independent SaysSanat Vallikappen
Nick Leeson, whose unauthorized trades brought down U.K. bank Barings Plc in 1995, has become a partner in distressed-debt adviser GDP, the Irish Independent reported.
With partners Conor Devine, a chartered surveyor, and James Gibbons, a solicitor, Leeson will advise clients with more than 1 million euros ($1.3 million) of debt on how to negotiate agreements with lenders, the newspaper said, citing an interview with the former trader. Former derivatives trader Leeson racked up $1.4 billion in losses for Barings.
Joining the Dublin-based firm is his first step back into business after serving a prison sentence and overcoming cancer, the newspaper said.