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Essay heading: Barings Bank Collapse
 
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Issue: Business
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Date added: March 3, 2003
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No of pages / words: 3 / 708
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But, the fact that he was successful in Jakarta and Hong Kong should not have blinded the eyes of the management that he was applying to a front office position (a trader's position) in Singapore. The front office and the back office operations are essentially complimentary jobs and one needs to be cross-verified with the other...
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Giving both these operations to the same person was an invitation to trouble. 3. Cultural differences The root of the cultural differences goes back to the merger of Barings Brothers with Barings Securities Ltd. Barings Brothers was a ?conservative and risk-averse bank' whereas Barings Securities was a ?free-wheeling enterprise with an aggressive, proactive approach'...
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