Barings Bank was a British merchant bank based in London, and the world's second oldest merchant bank (after Berenberg Bank). It was founded in 1762 and was owned by the German-originated Baring family of merchants and bankers.The bank collapsed in 1995 after suffering losses of £827 million ($1.3 billion) resulting from poor speculative investments, primarily in futures contracts, conducted by its employee Nick Leeson, working at its office in Singapore.
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