Barings Bank
Barings Bank was a British merchant bank based in London, and one of England's oldest merchant banks after Berenberg Bank, Barings' close collaborator and German representative. It was founded in 1762 by Francis Baring, a British-born member of the German–British Baring family of merchants and bankers.
| Industry | Banking |
|---|---|
| Founded | 1762 |
| Founder | Sir Francis Baring, Bt |
| Defunct | 26 February 1995 |
| Fate | Collapsed (Purchased for £1 by ING). |
| Successor | |
| Headquarters | London, England |
The bank collapsed in 1995 after suffering losses of £827 million (£1.7 billion in 2021) resulting from fraudulent investments, primarily in futures contracts, conducted by its employee Nick Leeson, working at its office in Singapore.
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