22 April 2013

Question Of The Day #44: Scoundrels!

Weekly Theme: Finance

Connect the pictures to a financial term.

Answer: (Please highlight the text below)

Rogue Trader. A rogue trader is an authorized employee making unauthorized trades on behalf of their employer. It is most often applicable to financial trading, where professional traders make unapproved financial transactions.
Persons in the pic are:
-Kweku Adoboli was a Ghanian-born British trader at Swiss bank UBS’ Global Synthetic Equities Trading team in London and is best known for his role in the 2011 UBS rogue trader scandal.
-Nicholas "Nick" William Leeson is a former derivatives broker whose fraudulent, unauthorized speculative trading caused the collapse of Barings Bank.
-Toshihide Iguchi  is a former Japanese government bond trader at Daiwa Bank responsible for $1.1 billion in losses involving 30,000 unauthorized trades over a period of 11 years beginning in 1984.

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