UBS says it has discovered a potential loss of $2 billion thanks to unauthorised trading by an employee at its investment bank.
Lets not forget the trailblazing, Manchester City F.C. supporting Nick Leeson who managed to bring down an entire bank - the original rogue trader whose catch phrase "All balls - no Barings" still haunts bank compliance officers.
Business is to make profits and also losses! I would sympathise with this trader for sure and its to a larger extent organisations fault to have faulty systems to allow such trades. what if the same rogue trader had made profits of $2bn, no media would have
to £60k base, £100k OTEAnywhere, UK
© Finextra Research 2014