Chapter 1424 Yang Ming Wants to Acquire Barings Bank!

Yang Ming knew.

The current Barings Bank has not collapsed, but it is almost there.

Historically, on January 18, 1995, the Great Earthquake in Kobe, Japan, caused the Tokyo Nikkei Index to fall sharply in the following days. On the one hand, Leeson suffered greater losses, and on the other hand, he purchased a larger number of Nikkei Index futures contracts. , hoping that the Nikkei will rise to the desired price range.

On January 30, 1995, Leeson obtained funds from London at a rate of 10 million pounds per day, bought 30,000 Nikkei futures, and shorted Japanese government bonds.

On February 10, 1995, Leeson held 55,000 Nikkei futures and 20,000 Toyo government bond contracts, a record number in the Singapore Futures Exchange's trading history.

The larger the number of transactions, the greater the loss.

All these transactions are entered into the 88888 account.

The transactions on the account are concealed as part of the audit function, but the funds required for margin calls cannot be concealed. Leeson continued to transfer money under various pretexts.

The degree of looseness is really incredible.

In mid-February 1995, Barings' total equity capital was only 470 million pounds.

On February 23, 1995, the last day of Bahrain futures, Leeson's efforts to influence the market direction completely failed. Nikkei's stock price closed at 17,885 points, and Leeson's long risk position in Nikkei futures has reached more than 60,000 contracts; as the price of its Japanese government bonds has been rising, its short risk position has also reached 26,000 contracts.

The losses caused by Leeson to Bahrain finally reached a high of 860 million pounds when Bahrain's senior executives were still dreaming of dividends the next day, which led to the end of Bahrain Bank, the oldest bank in the world.

Historically, the report on the bankruptcy of Bahrain Bank released by Singapura on October 17, 1995 and a sentiment in Leeson's autobiography can best express our regret for the Bahrain incident.

A paragraph from the conclusion of the report: "If the Bahrain Group can take timely action before February 1995, they may still avoid collapse. As of the end of January 1995, even if major losses have occurred, these losses are only 1% of the final losses. /4. If Bahrain’s management still knew nothing about the “88888” account before its bankruptcy, we can only say that they have been avoiding the facts.”

In other words, the current Barings Bank can actually be saved.

However, Yang Ming had to think carefully.

There are many key people involved here.

Among them, in addition to Peter Baring, chairman of Barings Bank, Mawson, there are also many senior executives of Barings Bank.

The most important thing is Mawson. It can be said that the century-old bank Barings fell into his hands.

"Boss, I didn't expect the internal problems of Barings Bank to be so big!"

Melis was also a little shocked.

After all, London is the second largest financial city in the world, and financial banking is its strength. However, with its development to this day, Merliss can also see that London has fallen far behind country M in terms of finance, and even It lags behind the current Xiangjiang.

However, externally, London is still the second largest financial city in the world.

"Boss, if we want to swallow up this Bahrain Bank, then now is indeed the best opportunity. Among them, the first one is to seize Mawson as soon as possible. The second one is that we have an agreement with the Bahrain family to acquire this bank. Third, if the problems inside are spread, it will affect the bank’s credit, market value, and customers.”

In fact, for a bank.

The most important thing is credit.

Barings Bank has a history of more than 200 years, which means it has accumulated more than 200 years of credit, but it can also be easily destroyed.

In addition to credit, of course customers accumulated for more than two hundred years are also the most important.

If these are gone and all that is left is a bank name with negative equity, then the acquisition would be meaningless.

Now what Yang Ming likes is the role of this bank as a multinational financial bank. In addition, it also has the importance of credit and customers.

If the Imperial Group acquires and sends people to change the management of this bank, there will be no problem for this multinational bank to enter the global 100 in the future.

"You are right. There is already a big hole inside Barings Bank. In addition to Mawson, there should be many internal executives who know about it. However, no one dares to expose it. Moreover, Mawson also knows A fluke."

So here are the two most important points.

One is to negotiate an acquisition with the Barings family, now the chairman of Barings Bank.

One is to immediately arrest that Mohsen to London or Xiangjiang. He has to take responsibility for this matter, especially the holes caused by wrong account numbers and investment mistakes.

"Boss, then I will personally fly to London to talk to Sir Peter Baring of the Baring family. Of course, he also knows the consequences of this matter getting out." Huo Jianning said directly.

"As soon as possible, there may be a few days before that Mawson is going to cause chaos again. After you negotiate the acquisition contract with the Bahrain family, immediately send someone to control Mawson."

Yang Ming, Mailisi, and Huo Jianning settled down, while Lin Xiuzhi, He Chaoluo, Ying La, Alina and others next to them looked at this scene in shock.

They did not expect that the three of Yang Ming would decide the fate of this one of the top 500 banks in the world.

Mailisi and Huo Jianning left Yang Ming's chairman's office.

Yang Ming was still looking out the window.

Yang Ming was determined to acquire Barings Bank.

It might be that the Empire Group had not made any external acquisitions for a long time. If the Empire Group wanted to acquire Barings Bank this time, it would have a great impact.

. . .

A luxurious manor in a small town in the suburbs of London.

This is one of the manors of the Baring family.

After Mai Lisi quietly flew from Hong Kong to London, he met with Barlow, the person in charge of London, and came to this small town in the suburbs that night to meet Peter Baring.

At this time, Huo Jianning was looking at the environment inside the manor.

London in January was still very cold, much colder than Hong Kong.

The daytime temperature here was 7 or 8 degrees Celsius, and the temperature at night was 2 or 3 degrees Celsius, which was very cold.

When the butler here learned that the visiting guest was Mr. Huo Jianning, the deputy general manager of the Empire Group Cabinet, the butler seemed to attach great importance to it. In addition to preparing black tea and desserts, he had already called Peter Baring who had not yet left work.

Peter Baring, who was still at the headquarters of the Bahrain Group, was surprised to learn that Mr. Huo Jianning, the deputy general manager of the Empire Group, was coming to see him.

There was no transaction between the Bahrain Group and the Empire Group.

Although the Empire Group is very strong in Country Y now, many of the privatized industries in Country Y over the years have fallen into the hands of the Empire Group and Sir Yang.

So many people know that most of Country Y's industries belong to Sir Yang.