Nick Leeson does not fit with Barings’ culture even though he has technical and business skills. He takes more risk than is authorized. He doesn’t care about being part of the company; he only cares about money and to be a “star”. Moreover, he constantly behaves unethically... Showed first 250 characters
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Moreover, he constantly behaves unethically.
Coaching the Alpha male
Bearings totally fails to “coach” Leeson. Leeson shows some of the Alpha male characteristics. He is impatient and wants his promotion at any cost. He has high performance expectations for himself and others and he is thus constantly dissatisfied... Showed next 250 characters
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The collapse of Barings
Different elements are at the root of Barings’ collapse. Those elements deal with four fundamental Organizational Behavior frameworks/concepts: “congruence model”, “coaching the alpha male”, “motivation” and “corporate culture”...
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Barings Bank Collapse
If we drill down, we realize that the key issues which caused this financial catastrophe were
1. A bad Organizational structure
2. Careless Empowerment
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A Hr Perspective Of The Collapse Of Barings Bank
Financial details aside, the collapse of Barings bank was brought on by heavy mismanagement and failure of the top order management who considered that returns were the only way of assessment of performance management...
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The Collapse of Barings Bank
To understand how this debacle came about, one must have a basic understanding of the nature of a derivative and what they are designed to do. Initially, derivatives were designed to provide an investor/trader with a type of insurance against unexpected movements in prices which could devastate an investment portfolio...
Leeson had various roles to play within BSS; he was the general manager, the head trader and the head of the back office. Usually different people perform these tasks, but Baring’s management failed to see the conflict of interests befalling one undertaking multiple roles ...
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Nick Leeson's Double Life
In 1999, director/screenwriter James Drearden released the movie Rogue Trader, which encapsulates the true life of futures trader Nick Leeson and his role in the downfall of Barings Bank...