A cunning scoundrel in exotic Singapore single-handedly brings down Barings Bank, established two centuries ago and one of England's foremost financial institutions. Another wildly improbable sting flick? Not at all - the story is based on actual events and the film sticks pretty close to the facts. Nick Leeson, brilliant and ambitious young trader, superstar of the Singapore stock market, incurs staggering losses. Unwilling to jeopardize his prospects for advancement, he tries to cover his tracks by pulling non-existent rabbits out of imaginary hats. The literally gut-wrenching stress of this Sisyphusian endeavor is illustrated by Leeson's frequent bouts of vomiting (while in prison, he underwent surgery to remove a tumor along with part of his colon and large intestine, and chemotherapy after being released). The film's flaw is that it glosses over the bank's role in the disaster. Barings turned a neophyte loose in an foreign arena with total control of the operation and minimal supervision. Putting the same individual in charge of both the front office and back office bypasses the appropriate checks and balances, and is tantamount to having the fox guard the hen-house. The official report of the Bank of England concluded that Barings' failure to segregate Leeson's duties was "reprehensible," and those with "direct executive responsibility for establishing effective controls must bear much of the blame." Yet little mention is made of this in the film. And the mechanizations of the stock market are downright incomprehensible at times. Nevertheless, this is an interesting story and Ewan McGregor turns in another outstanding performance.
48 Reviews
McGregor Bares All
dglink13 October 2015
Young English investment broker, Nick Leeson, distinguishes himself in his bank's Jakarta office and his reward is an assignment in Singapore, where he unwisely manages both the trading floor and the office operations. His first year is a big success with huge profits, despite some some questionable practices to retain an important client. However, he also establishes an 88888 account, which makes his employer, Baring Bank, into a customer, and he crosses the line again with forged documents to verify a large non-existent transaction. Based on a true story, "Rogue Trader" may confuse those whose vocabulary does not include puts and calls, options and futures, commodities and derivatives. Written and directed by James Deardon from Leeson's autobiography, the film uses extensive voice-over to share Leeson's thoughts and feelings as his illegal activities spiral out of control. Even Leeson seems stupefied and astounded at the magnitude of the damage he has wrought.
Ewan McGregor does well as Leeson, and, for those McGregor fans who want all the Ewan they can get, Deardon offers extended shots of the actor in shorts, bathing suits, completely nude, and bare-assed. Anna Fiel plays Leeson's wife, Lisa; she is passable in an undemanding role and exposes less flesh to the camera than her co-star. Drinking binges, euphoric highs, and emotional lows provide McGregor with a showcase for his talent; if only the film were worthy of him. "Rogue Trader" is not a bad film, but confusing at times, and narration is a lazy device. Filmed in Singapore where the story took place, the movie is a cut above TV fare, but only a small cut. Without McGregor the film would be less worthy of watching; with him, "Rogue Trader" is a passable take on a famous crime.
Ewan McGregor does well as Leeson, and, for those McGregor fans who want all the Ewan they can get, Deardon offers extended shots of the actor in shorts, bathing suits, completely nude, and bare-assed. Anna Fiel plays Leeson's wife, Lisa; she is passable in an undemanding role and exposes less flesh to the camera than her co-star. Drinking binges, euphoric highs, and emotional lows provide McGregor with a showcase for his talent; if only the film were worthy of him. "Rogue Trader" is not a bad film, but confusing at times, and narration is a lazy device. Filmed in Singapore where the story took place, the movie is a cut above TV fare, but only a small cut. Without McGregor the film would be less worthy of watching; with him, "Rogue Trader" is a passable take on a famous crime.
Interesting story!
alserve19 February 2000
I found Rogue Trader to be a highly entertaining point of view regarding the Barings bank disaster of the mid 90's, from Nick Leeson himself. I once said, "I'm not crazy to see movies that I know the ending". However, I had to start eating my words after TITANIC. Now, I can add this to the list. Barings was the financial equivalent of the "unsinkable ship" and just like TITANIC, I was on the edge of my seat when the unthinkable was finally realized. A must see, minus heroes.
6 bid on just 10 lots.
Oro-Indiano19 April 2000
Any film dealing with a largely technical business such as the derivatives industry is going to be caught between a rock and a hard place before it even gets going; on the one hand, if the film-makers spend too much time explaining the complexities of the market, they will bore those in the know and probably send everyone else to sleep too, whereas if they don't indicate what's going on then they risk limiting their audience to only those with direct experience of trading. There can be no drama if the majority of viewers don't actually realise what's happening.
"Rogue Trader" then, for it's many flaws, is at least partially successful, because it makes clear the central principles of what Leeson was doing - making a double bet on the market going only in one direction. Having worked on London's futures exchange, I can't really be objective. I laughed out loud many times at the actors' and extras' bad hand-signals, the unrealistic dialogue in relation to price and size etc. "Real" market-speak often takes for granted that both parties understand alot more than needs to be said, thus leaves alot out. But of course that makes for bad cinema, so one can't grumble too much.
The cast is generally pretty good, McGregor acting his socks off as always. The main problem is that the script and direction are, from the get-go, just totally OBVIOUS. By this I mean that no visual or audio cliché is left unused. For example, every Barings office in London seems to have a plum view of St. Paul's Cathedral, just in case we forget where they are. And if these scenes can be accompanied by some chamber music, to remind us of the history and upperclass pedigree, then they will be. The reckless young traders, by contrast, are followed around by a largely anachronistic soundtrack of dance music and Britpop. When Leeson arrives in Asia for the first time, we hear Kula Shaker! Please! Perhaps a different, less conventional style of direction might have improved matters...
It's interesting that many people have commented along the lines of "Leeson only does what I'd do in that situation, trying to make things better". Since it's based on his book, the film unsurprisingly tries to make Leeson look... well, if not good, exactly, then at least not like a total idiot. I can't sympathize entirely, because "NEVER double up" and "a small loser is better than a blow out" are amongst the first things you learn down there. But even if only one tenth of all this is true, it's still truly stunning that Barings London didn't know what was going on, and accepted his story unchecked for so long... If they were that incompetent, they deserved to go bust.
Ultimately, "Rogue Trader" is neither a great movie nor a terrible one. As far as finance-films go, it rises majestically above the plain awfulness of "Dealers" or "Limit Up", but is still less informative than what is still the best market movie, "Trading Places". But who knows, maybe "I have just lost 50 million quid!" will enter traders' vocabulary in a few years, just as "Turn those machines back on!" already has. As a film, it's an entertaining diversion, and an interesting footnote to the headlines.
(6/10)
"Rogue Trader" then, for it's many flaws, is at least partially successful, because it makes clear the central principles of what Leeson was doing - making a double bet on the market going only in one direction. Having worked on London's futures exchange, I can't really be objective. I laughed out loud many times at the actors' and extras' bad hand-signals, the unrealistic dialogue in relation to price and size etc. "Real" market-speak often takes for granted that both parties understand alot more than needs to be said, thus leaves alot out. But of course that makes for bad cinema, so one can't grumble too much.
The cast is generally pretty good, McGregor acting his socks off as always. The main problem is that the script and direction are, from the get-go, just totally OBVIOUS. By this I mean that no visual or audio cliché is left unused. For example, every Barings office in London seems to have a plum view of St. Paul's Cathedral, just in case we forget where they are. And if these scenes can be accompanied by some chamber music, to remind us of the history and upperclass pedigree, then they will be. The reckless young traders, by contrast, are followed around by a largely anachronistic soundtrack of dance music and Britpop. When Leeson arrives in Asia for the first time, we hear Kula Shaker! Please! Perhaps a different, less conventional style of direction might have improved matters...
It's interesting that many people have commented along the lines of "Leeson only does what I'd do in that situation, trying to make things better". Since it's based on his book, the film unsurprisingly tries to make Leeson look... well, if not good, exactly, then at least not like a total idiot. I can't sympathize entirely, because "NEVER double up" and "a small loser is better than a blow out" are amongst the first things you learn down there. But even if only one tenth of all this is true, it's still truly stunning that Barings London didn't know what was going on, and accepted his story unchecked for so long... If they were that incompetent, they deserved to go bust.
Ultimately, "Rogue Trader" is neither a great movie nor a terrible one. As far as finance-films go, it rises majestically above the plain awfulness of "Dealers" or "Limit Up", but is still less informative than what is still the best market movie, "Trading Places". But who knows, maybe "I have just lost 50 million quid!" will enter traders' vocabulary in a few years, just as "Turn those machines back on!" already has. As a film, it's an entertaining diversion, and an interesting footnote to the headlines.
(6/10)
It's a fix gov!
ajpage6 July 1999
The film isn't bad, and if you at all interested in the case but know nothing about city trading then see it, if you do (unlike me) i'm sure you will be able to pick holes in it. The one thing that you are left at the end, is the injustice for all the blame to land on his shoulders, he was daft, but there were others. The sets are very good, dodgy boom mike holding, and very dodgy lines from Anna Friel, but she goes topless and so can be forgiven!
Greed, Arrogance, and Very Bad Jackets
AZINDN11 September 2005
Unlike compelling stories of high finance and crime in films like the Thomas Crown Affair and Rollover, Rogue Trader purports to be the true story of Nick Leeson, a stock trader whose speculation brought down Barings, England's oldest bank. McGregor portrays Leeson as a charmer white collar criminal who ended up sentenced to six years in a Chinese prison for insider trading and fraud. Diagnosed with cancer, Leeson wrote his memoirs and low and behold it became a film.
Always a solid performer, Ewan McGregor plays the self-absorbed, arrogant Leeson with his usual competence and energy. Anna Friel is his in the dark wife who yearns to be pregnant but can't interest her husband away from the trading floor. This is story of greed, larceny, and speculation on a grand scale. The film was never released in theaters but went straight to Showtime and has now been released for home sale. Skip it and rent it. Good acting, good story, but not a very compelling item for collectors of McGregor's work.
Always a solid performer, Ewan McGregor plays the self-absorbed, arrogant Leeson with his usual competence and energy. Anna Friel is his in the dark wife who yearns to be pregnant but can't interest her husband away from the trading floor. This is story of greed, larceny, and speculation on a grand scale. The film was never released in theaters but went straight to Showtime and has now been released for home sale. Skip it and rent it. Good acting, good story, but not a very compelling item for collectors of McGregor's work.
The Wide Boy's curve that went too far and out of control.
Cinema_Fan31 August 2006
Coincidently part produced by Newmarket Capital Group LLC, USA and part Distributed by Capitol Films, France, amongst others; the flavour of the day is most certainly capital. While the show business entrepreneur and capitalist Sir David Frost, and executive producer to the movie Rogue Trader, was travelling back from Singapore, after interviewing Nick Leeson, while still in prison, he came up with an idea of capitalising on the theory of making a movie on the life of said prisoner.
The result, taken from the self-penned autobiography of Nick Leeson, how true and unbiased this is is only known by Leeson and his close associates. In what at first seems to be a straight to video / television movie, is somewhat different, this gritty, basic and though lacking in the big budget league, is very down to earth, this fine little movie works well.
Played by, then in his mid to late twenties, Ewan McGregor and only three years after his break through movie Trainspotting (1996), and shortly after Star Wars: Episode I - The Phantom Menace (1999) too, he, according to the journals of Leeson, is playing the eager and willing recipient of a chance of a life time. This tiny little mouse has been sent to Singapore, to correct and finalise the financial dealings, for Barings Bank, in the Asian sector, and while the cats are away, the mice will play.
The narrative, both visual and verbally chronicled, is of an optimistic and fruitful future, for both employer and employee, with McGregor playing the wide-eyed financial barrow boy cum playboy, who, rightly so, just wants to progress to the top of his career. Unfortunately, complacency is the victor here, the anticipation of failure is slowly built up, but not in a tedious fashion either, Leeson is seen here as the Mr. Nice Guy, but nice does not work in the world of cutthroat finance trading. The narrative, in a flick of a wrist, the turn of a deal, becomes pessimistic, daunting and high-octane adrenaline.
Sliding along with a soundtrack that gently pushes and squeezes the unforeseen catastrophe is the likes of Andy Williams "Can't Take My Eyes off You", Blurs "Song 2", Leftfields "Strom 3000" and with what appears to be Rogue Traders signature tune "Money (That's What I Want)" performed by Barrett Strong.
With its coarse language and respectable soundtrack Rogue Trader, a.k.a. the story of Nick Leeson and his down fall, is an education, or propaganda considering ones view point, of how the money market, and its individual stalls, deal with greed, ignorance and failure.
The result, taken from the self-penned autobiography of Nick Leeson, how true and unbiased this is is only known by Leeson and his close associates. In what at first seems to be a straight to video / television movie, is somewhat different, this gritty, basic and though lacking in the big budget league, is very down to earth, this fine little movie works well.
Played by, then in his mid to late twenties, Ewan McGregor and only three years after his break through movie Trainspotting (1996), and shortly after Star Wars: Episode I - The Phantom Menace (1999) too, he, according to the journals of Leeson, is playing the eager and willing recipient of a chance of a life time. This tiny little mouse has been sent to Singapore, to correct and finalise the financial dealings, for Barings Bank, in the Asian sector, and while the cats are away, the mice will play.
The narrative, both visual and verbally chronicled, is of an optimistic and fruitful future, for both employer and employee, with McGregor playing the wide-eyed financial barrow boy cum playboy, who, rightly so, just wants to progress to the top of his career. Unfortunately, complacency is the victor here, the anticipation of failure is slowly built up, but not in a tedious fashion either, Leeson is seen here as the Mr. Nice Guy, but nice does not work in the world of cutthroat finance trading. The narrative, in a flick of a wrist, the turn of a deal, becomes pessimistic, daunting and high-octane adrenaline.
Sliding along with a soundtrack that gently pushes and squeezes the unforeseen catastrophe is the likes of Andy Williams "Can't Take My Eyes off You", Blurs "Song 2", Leftfields "Strom 3000" and with what appears to be Rogue Traders signature tune "Money (That's What I Want)" performed by Barrett Strong.
With its coarse language and respectable soundtrack Rogue Trader, a.k.a. the story of Nick Leeson and his down fall, is an education, or propaganda considering ones view point, of how the money market, and its individual stalls, deal with greed, ignorance and failure.
The Damage One Man Can Do
view_and_review17 October 2021
I watch these financial movies like "Wall Street," "Boiler Room," and even "Trading Places" and I hardly know what's going on, but I'm intrigued. Without focusing on the details I can understand the gravity of what's happening and enjoy the movie.
"Rogue Trader" is about a man named Nick Leeson (Ewan McGregor) who bankrupted the oldest bank in England by making illegal trades on behalf of the bank. He was trading in Singapore on the Nikei exchange. What I can gather from the jargon is that he was perpetually trying to make up his losses by sinking more of the bank's money into contracts. When the Nikei tanked after the Kobe earthquake in 1995 the game was over for Leeson. When it was all said and done he'd lost over a billion dollars of the bank's money and sank it.
Nothing was more annoying yet fascinating than watching Leeson dig his own grave. As he kept behaving riskier and riskier it never seemed to cross his mind to get out. He also seemed to rather enjoy being on the limb he was on. It was like he relished the thrill of it all. I'm sure his behavior changed a lot of the rules in banking, one of which should be a psyche exam for potential traders.
"Rogue Trader" is about a man named Nick Leeson (Ewan McGregor) who bankrupted the oldest bank in England by making illegal trades on behalf of the bank. He was trading in Singapore on the Nikei exchange. What I can gather from the jargon is that he was perpetually trying to make up his losses by sinking more of the bank's money into contracts. When the Nikei tanked after the Kobe earthquake in 1995 the game was over for Leeson. When it was all said and done he'd lost over a billion dollars of the bank's money and sank it.
Nothing was more annoying yet fascinating than watching Leeson dig his own grave. As he kept behaving riskier and riskier it never seemed to cross his mind to get out. He also seemed to rather enjoy being on the limb he was on. It was like he relished the thrill of it all. I'm sure his behavior changed a lot of the rules in banking, one of which should be a psyche exam for potential traders.
the one about the investment broker doing it with smoke and mirrors
blanche-222 November 2013
Rogue Trader is a 1999 film that tells the story of Nick Leeson who managed to bankrupt Barings Bank.
All you have to do is hear the words "investment banker," "stock broker," or "bonds trader," and you know what the movie is about. Supposedly, as with Bernie Madoff, the main character didn't start out to cheat Barings Bank. When the market was going up, Leeson was very successful, but he started breaking rules early on. When the markets started to crash, his losses became bigger and bigger and bigger until his house of fake trades began to crumble.
Totally predictable, but nevertheless, suspenseful, well acted, and involving. Ewan McGregor is excellent - young, attractive, and happily married, one could really feel the horrible pressure he was under keeping up a brave front, though he could have saved himself a lot of trouble if he had spoken up at the beginning.
The moral of this story is, the more money that comes in, the greedier everyone gets - the investors, the banks, the brokers, everyone. No one asks any questions as long as you're making money. By the time they start asking questions, it's too late. Everyone is culpable. Enron had no products and a bunch of dummy corporations, and the banks were loaning them millions upon millions of dollars. Try getting a loan from a bank some time. And they wonder why they had to be baled out.
Anna Friel does a good job as his wife. That was another sad thing in the film -- she wasn't a woman who cared about the money. She didn't even want to live in Singapore. She just loved him and wanted to be with him.
I really can't follow the technical aspects of these finance stories, but still, this was good.
All you have to do is hear the words "investment banker," "stock broker," or "bonds trader," and you know what the movie is about. Supposedly, as with Bernie Madoff, the main character didn't start out to cheat Barings Bank. When the market was going up, Leeson was very successful, but he started breaking rules early on. When the markets started to crash, his losses became bigger and bigger and bigger until his house of fake trades began to crumble.
Totally predictable, but nevertheless, suspenseful, well acted, and involving. Ewan McGregor is excellent - young, attractive, and happily married, one could really feel the horrible pressure he was under keeping up a brave front, though he could have saved himself a lot of trouble if he had spoken up at the beginning.
The moral of this story is, the more money that comes in, the greedier everyone gets - the investors, the banks, the brokers, everyone. No one asks any questions as long as you're making money. By the time they start asking questions, it's too late. Everyone is culpable. Enron had no products and a bunch of dummy corporations, and the banks were loaning them millions upon millions of dollars. Try getting a loan from a bank some time. And they wonder why they had to be baled out.
Anna Friel does a good job as his wife. That was another sad thing in the film -- she wasn't a woman who cared about the money. She didn't even want to live in Singapore. She just loved him and wanted to be with him.
I really can't follow the technical aspects of these finance stories, but still, this was good.
Go on, just wait for a tedious sequel!
redkiwi14 July 1999
Having actually looked into the whole Barings situation as a Finance student at the time, I definitely went into this film with pre-concieved notions and ideas.
I'd come out thinking nothing different really, as this was obviously a Nick Leeson ego boost as opposed to a film, which anyone should really have spotted by the fact that he wrote the screenplay!
The film-makers glossed over the parts that made Leeson look bad, and only boosted his Rogue image, as if we were supposed to take pity on him in a way that he was a victim of the whole thing.
Again this could only have reasonably been expected, but to be quite so blase and open about it was still a surprise.
That's not to say this didn't have redeeming factors - Ewan McGregor was very good as Leeson and eminently convincable, as was Anna Friel as his wife Lisa.
Coming out of the cinema, the initial thought is that there's already enough material for a sequel. Which I won't be seeing.
I'd come out thinking nothing different really, as this was obviously a Nick Leeson ego boost as opposed to a film, which anyone should really have spotted by the fact that he wrote the screenplay!
The film-makers glossed over the parts that made Leeson look bad, and only boosted his Rogue image, as if we were supposed to take pity on him in a way that he was a victim of the whole thing.
Again this could only have reasonably been expected, but to be quite so blase and open about it was still a surprise.
That's not to say this didn't have redeeming factors - Ewan McGregor was very good as Leeson and eminently convincable, as was Anna Friel as his wife Lisa.
Coming out of the cinema, the initial thought is that there's already enough material for a sequel. Which I won't be seeing.
You think your job is stressful?
frenchie-1630 June 1999
When I saw the ratings and the comments listed for this movie, I wasn't sure that this was the movie I saw last night! If you're looking for a history lesson on the fall of Synex, read a book. If you're looking for an edge of your seat thriller, with no violence at all, and hilarious breaks in the tension, this is your flic. First, Ewan McGregor is becoming one of my top actors. His portrayal of a cool-as-a-cucumber trader, even under incredible stress is delightful. You can't help but be nervous as Nick Leeson dodges bosses, controllers, and his wife. The level of the stress is clearly portrayed, and his fantasy scenes are great. The other actors are shallow, but hilarious. Enjoy this flic. I did.
When Bearings Bankers Are the Little Red Ridding Hood
claudio_carvalho7 October 2003
This movie is the true story of Nick Leeson (the fantastic Ewan McGregor), the employee who broke the oldest bank in England, the Bearings Bank. Nick is an ambitious young man, son of a simple man who works with plaster, transferred to Singapore to operate in future market of derivatives. He was considered the best employee of Bearing Banks, but indeed he was gambling with high amounts of the bank and hiding the losses under a secret account number 88888. There are at least three points to highlight in this movie. The first one is the great performance of Ewan McGregor. Everybody knows he is an excellent actor and once again he does not disappoint the viewer. Second is about the screenplay, based on a book written by Nick Leeson: is it possible to believe that the oldest bank in England was managed by a board of directors that look like the Little Red Ridding Hood (instead of the bad wolf)? Everywhere in the world, persons very aware of cash flow administrate banks. How could one unique employee keep the real situation hidden from the Bearings Senior Management? I believe it would be almost impossible, therefore it seems that some kind of arrangement may be made having Nick as the scapegoat of the whole situation (or high profits were expected in those dirty operations) with the participation of other important persons in the bank. Anyway, if this film shows the truth, it is amazing how this bank had survived for such a long time. Last but not the least, is it possible to believe that a smart guy like Nick Leeson 'has not reserved' some money for his early retirement? It is hard to believe! The great love of Lisa for Nick is also very easily forgot in the end of the story. However, it is a good movie and a worthwhile entertainment. My vote is seven.
Title (Brazil): "A Fraude" ("The Fraud")
Title (Brazil): "A Fraude" ("The Fraud")
Cardboard cutouts
pawebster13 February 2006
This film has various problems. One is that it really tells us nothing of note that we did not know from newspaper reports at the time. At least it was hot news then. By the time the film came out, it was old hat, and of course, we spend the whole film waiting for the crash and Leeson's arrest. There is no suspense and no plot of any interest.
The film might have made up for this if the characters had been interesting, or if they had somehow thrown light on the meaning of life. They don't. Being based on Leeson's own book means that everything is seen from his superficial angle. What really drove him, how he really got into this mess, we never really feel. McGregor does his best, mainly using facial expressions to gloss over what the script does not provide.
Anna Friel has a thankless role as his cardboard cutout wife. All the Barings characters are even more two-dimensional. When the real people are still around, I suppose you have to be very careful not to expose yourself to lawsuits. The result is blandness.
What's the point of this film?
The film might have made up for this if the characters had been interesting, or if they had somehow thrown light on the meaning of life. They don't. Being based on Leeson's own book means that everything is seen from his superficial angle. What really drove him, how he really got into this mess, we never really feel. McGregor does his best, mainly using facial expressions to gloss over what the script does not provide.
Anna Friel has a thankless role as his cardboard cutout wife. All the Barings characters are even more two-dimensional. When the real people are still around, I suppose you have to be very careful not to expose yourself to lawsuits. The result is blandness.
What's the point of this film?
Very Enjoyable
jamesedunne18 December 2003
I very much enjoyed this film for two main reasons. Firstly, it closely resembles the book written by Nick Leeson, and secondly it does take slow steps to try and guide the viewer through the complex world of options & futures.
The film did leave a realistic impression of what the high-life is for some of these traders especially those from England to which Singapore must have felt like another world. The soundtrack, although quite varying at times, also helps create the buzz of Singapore & Asia in the early 90's.
There have been a lot of vocal critics of the film with comments such as boring and lack of dramatic material, but I often prefer films that stay strictly to the subject material and don't get too carried away for dramatic effect.
The performance which I actually thought was best was that of Lee Ross who played Nick's friend Danny. Although quite different from the character in the book (Danny actually doesn't drink and is Greek not English), Lee's performance was well-rounded and very enjoyable as the loyal and dependable friend of Nick. That scene in the bar during the famous "mooning" incident was hilarious.
If you look closely during the film you will actually see the real Danny Argyropoulos & "Ches" Lemming of which the latter actually worked alongside Nick on the Simex trading floor.
Ewan McGregor was great as usual and I often find it strange to see the real Nick Leeson in a photo, as I'd became so accustomed to seeing Ewan as Nick. The very attractive Anna Friel didn't have much material to work with, but did manage to pull off the role of Lisa Sims.
Although I've read much criticism of Nick Leeson, I still have seen or heard nothing to make me doubt the overall story as told by Nick. He could have put a very big boot into Barings when writing his book and would have been perfectly justified in doing so, but his main criticism was of their management practices and not whether he was in fact a "Fall Guy" for Barings.
When reading the criticism of Nick, I've tried to put myself in his position and try to imagine how things were for him. Imagine you've been offered a fantastic job in the vibrant early 1990's market of Singapore, you've just been married, and your earning a fantastic salary. Surround yourself with many others like yourself, and you can imagine how things can get carried away with young guys in their mid-20's who must have thought of themselves as invincible.
In the end I did end up feeling quite sorry for Nick. I'm sure if I'd lost money from investments in Barings, my sympathy wouldn't be as strong! But going from the high life in Singapore to being alone for 4 years in a jail cell is quite a shock to anyone and especially with the added pressure of developing cancer and ultimately the breakdown of your marriage. Having to part with your wife in that German police station must have been very hard.
Lisa sums up the subject material late in the film when she said to Nick; "You were gambling, with other people's money", and if that is the case, then Nick is guilty as sin. But, according to the story, it all started from trying to fix the errors of others and so on. He did get himself back to profit at one point, but with most gamblers, especially after winning back lost money, it's hard to resist that one last punt.
Chin up Nick!
4 out of 5 stars
The film did leave a realistic impression of what the high-life is for some of these traders especially those from England to which Singapore must have felt like another world. The soundtrack, although quite varying at times, also helps create the buzz of Singapore & Asia in the early 90's.
There have been a lot of vocal critics of the film with comments such as boring and lack of dramatic material, but I often prefer films that stay strictly to the subject material and don't get too carried away for dramatic effect.
The performance which I actually thought was best was that of Lee Ross who played Nick's friend Danny. Although quite different from the character in the book (Danny actually doesn't drink and is Greek not English), Lee's performance was well-rounded and very enjoyable as the loyal and dependable friend of Nick. That scene in the bar during the famous "mooning" incident was hilarious.
If you look closely during the film you will actually see the real Danny Argyropoulos & "Ches" Lemming of which the latter actually worked alongside Nick on the Simex trading floor.
Ewan McGregor was great as usual and I often find it strange to see the real Nick Leeson in a photo, as I'd became so accustomed to seeing Ewan as Nick. The very attractive Anna Friel didn't have much material to work with, but did manage to pull off the role of Lisa Sims.
Although I've read much criticism of Nick Leeson, I still have seen or heard nothing to make me doubt the overall story as told by Nick. He could have put a very big boot into Barings when writing his book and would have been perfectly justified in doing so, but his main criticism was of their management practices and not whether he was in fact a "Fall Guy" for Barings.
When reading the criticism of Nick, I've tried to put myself in his position and try to imagine how things were for him. Imagine you've been offered a fantastic job in the vibrant early 1990's market of Singapore, you've just been married, and your earning a fantastic salary. Surround yourself with many others like yourself, and you can imagine how things can get carried away with young guys in their mid-20's who must have thought of themselves as invincible.
In the end I did end up feeling quite sorry for Nick. I'm sure if I'd lost money from investments in Barings, my sympathy wouldn't be as strong! But going from the high life in Singapore to being alone for 4 years in a jail cell is quite a shock to anyone and especially with the added pressure of developing cancer and ultimately the breakdown of your marriage. Having to part with your wife in that German police station must have been very hard.
Lisa sums up the subject material late in the film when she said to Nick; "You were gambling, with other people's money", and if that is the case, then Nick is guilty as sin. But, according to the story, it all started from trying to fix the errors of others and so on. He did get himself back to profit at one point, but with most gamblers, especially after winning back lost money, it's hard to resist that one last punt.
Chin up Nick!
4 out of 5 stars
not particular gripping tale of finance and fraud
didi-517 August 2007
The story of Nick Leeson's contribution to the collapse of Barings Bank is a definite cash-in on the whole sorry story, and I have a bit of a problem with that. OK, so Leeson, he says, made no money from his gambling on the Singapore stock market - but he certainly made money from his autobiography and this film of it. That leaves a nasty taste, somehow.
Euan McGregor is fine as Leeson - he doesn't make the character likable and manages to put across some of his motivation for rising in his organisation and then biting the hand that feeds. The story is presented in such a way that you're supposed to feel sorry for Leeson - but you don't. Maybe that is a failure of the film, but he is so arrogant you can't feel anything but a smile when fate finally catches up with him.
Well-shot as the film is, it is as empty as the soulless job of working the trading floor. It puts across the coldness of the stock market, where money becomes just another set of noughts, not really real, very convincingly, but is this really enough to make it a good film?
Euan McGregor is fine as Leeson - he doesn't make the character likable and manages to put across some of his motivation for rising in his organisation and then biting the hand that feeds. The story is presented in such a way that you're supposed to feel sorry for Leeson - but you don't. Maybe that is a failure of the film, but he is so arrogant you can't feel anything but a smile when fate finally catches up with him.
Well-shot as the film is, it is as empty as the soulless job of working the trading floor. It puts across the coldness of the stock market, where money becomes just another set of noughts, not really real, very convincingly, but is this really enough to make it a good film?
Whoops......Bankrupt
sveknu13 May 2005
I don't know if Nick Leeson deserved this movie. A man who almost single-handedly made one of Britains big banks bankrupt couldn't be as "innocent" as portrayed in this movie? Or?
I didn't know any of the details in the Barings Bank-bankrupcy. I think that helped me in enjoying this movie, because it was quite entertaining. I'm no expert in how trading takes place in the stock market and physically at the stock exchange either. I think that helped too, because I've heard from people who know a lot about it that the way this is portrayed in the movie isn't very realistic. But, as mentioned, I didn't have to worry about that.
If you'd like a thriller about financial problems and crimes (a really small genre) I thing you'll enjoy this one. Normal people have no problem in understanding what's happening in the movie.
I didn't know any of the details in the Barings Bank-bankrupcy. I think that helped me in enjoying this movie, because it was quite entertaining. I'm no expert in how trading takes place in the stock market and physically at the stock exchange either. I think that helped too, because I've heard from people who know a lot about it that the way this is portrayed in the movie isn't very realistic. But, as mentioned, I didn't have to worry about that.
If you'd like a thriller about financial problems and crimes (a really small genre) I thing you'll enjoy this one. Normal people have no problem in understanding what's happening in the movie.
By the book
paul2001sw-128 July 2004
Nick Leeson was the man who broke the bank at Barings, and 'Rogue Trader' is a strictly by-the-book dramatisation of his autobiography. The basic story is essentially compelling (how could one man lose so much money?), but the pace is at times slow and some of the dialogue a bit leaden (especially when the film tries to explain the markets). Overall, it sticks to the orthodoxy that Leeson was just a rogue trader, a verdict oddly comforting to both Leeson (who can deny moral responsibility, on grounds of inadequate supervision) and Barings (who can deny technical responsibility for fraud). But if this line is going to stick, we need to understand Leeson's motivation: the film hints at fear, greed and that elusive "buzz" that comes from being top of the market, but is perhaps too kind to its protagonist and fails to present anything that truly explains quite how he managed to get in so deep (we are moved from losses of £60,000 to losses of ten million in a single scene). A less likeable hero than that portrayed by Ewan MacGregor might have been more convincing, and thereby (ironically) more sympathetic. As it is, it's hard to care.
Interesting, but some lousy acting.
nero-529 June 1999
I enjoyed this film although the script and interactions between characters often let it down. I really wanted Nick to succeed as it seems like the sort of thing that could happen to anyone - you start out with ambition, make a mistake, try to cover it and things just spiral out of your control. A lesson for us all.
The most plastic relationship was that between Nick and his wife Lisa but other characters from the bank also appeared very stereotyped. Nick's personal thoughts kept the whole thing going though.
Overall, this film kept me interested but could have been much more.
The most plastic relationship was that between Nick and his wife Lisa but other characters from the bank also appeared very stereotyped. Nick's personal thoughts kept the whole thing going though.
Overall, this film kept me interested but could have been much more.
Acting, not budget
lhunt4 December 1999
We were impressed at the quality of acting in this relatively low budget film. Rather than special effects and technical events, this movie very successfully brings you into Nick Leeson's world. It is certainly not an apology for Mr. Leeson, Ewan McGregor very effectively and subtly captures the drivenness that envelopes Mr. Leeson and, of course, undoes him and the bank. This movie brought us into a world that we knew little of, and helped us understand it from the inside out.
Everything you expected
danielepps-1112414 November 2017
Rogue Trader I thought was done well from the perspective that it told the story, it highlighted the important events that occurred, and it explained financial terms to viewers who do not have a financial background. As a student of finance and economics, I thought the film to be informative, not overly flamboyant (like Wolf of Wall Street), and therefore entertaining.
I would recommend this movie to anyone interested in trading or the financial markets, as a story of the ramifications of one's actions.
I would recommend this movie to anyone interested in trading or the financial markets, as a story of the ramifications of one's actions.
My team were young, they were hungry, and they didn't have a clue.
hitchcockthelegend21 February 2016
I don't have youth on my side, as regards Nick Leeson's quote that headlines this small review, but I was hungry for a good film and I didn't have a clue about what it would be like!
Rogue Trader is the story of how wide boy Nick Leeson brought about the downfall of Barings Merchant Bank, one of the most financially historical institutions in London. A fictionalised adaptation from Leeson's own autobiography, the potential for a potent insight into insider trading et al is wasted. Instead we get a film of baffling trader chatter, newspaper like direction from James Dearden, and performances outside of Ewan McGregor as Leeson, that are distinctly unbelievable.
Those who work in the industry this involves are sure to find some rewards, but to the outsiders peeking in to hopefully learn whist being entertained, it's a damp financial squib. 5/10
Rogue Trader is the story of how wide boy Nick Leeson brought about the downfall of Barings Merchant Bank, one of the most financially historical institutions in London. A fictionalised adaptation from Leeson's own autobiography, the potential for a potent insight into insider trading et al is wasted. Instead we get a film of baffling trader chatter, newspaper like direction from James Dearden, and performances outside of Ewan McGregor as Leeson, that are distinctly unbelievable.
Those who work in the industry this involves are sure to find some rewards, but to the outsiders peeking in to hopefully learn whist being entertained, it's a damp financial squib. 5/10
Very exciting, heart pounding and interesting
Buddy-4313 July 1999
Apart from being an extremely informative account of Nick Leeson's escapades at Baring's Bank, this film manages to integrate a great deal of suspense and drama into what could have been a dull, documentary-style catalogue of events. Ewan McGregor perfectly captures the bullish arrogance of the rogue trader who we still are able to like and admire. Some of the most energetic scenes take place in the big trading room where we see the split-second buying and selling which makes fantastic drama that really gets the adrenalin flowing. A huge amount of imagination is shown in the directing department, especially when Leeson begins to realize where he is heading. Definitely worth seeing!
A Financial Thriller or Tragedy?
Dotacion24 January 2004
If like me, the S&L[1], insider trading, and Enron[2] scandals intrigue you, and you desire to see a dramatic and fairly factual treatment of what makes these things go bump in the night, then this is for you.
It is not hard to figure out why The Great Financial scandals are overlooked by Hollywood. The tales are not only apt to get so bogged down by confusion and spin, but the threat of lawsuit and small box office[3] means the double whammy effect is on, so of course would never get greenlighted.
As it stands, the makers of Rogue Trader give it the dramatic treatment it needs to please a high-finance numpty like myself, more interested in the drama of it all, and kept me interested to the end. It (thankfully) never bogged down in exposition, trying to explain the intricacy of it all. Deft.
Playing fast and loose doesn't excuse Nick Leeson from being the sole agent of doom for Barings, and his crime is not molly-coddled here. You understand what propelled him. You also might find yourself wondering if the checks and balances which failed to catch his back room shenanigans are are also lacking here, in the over regulated and under staffed U.S. commissions (Helllooooo SEC!). Talk about scary!
And to top it all, this film was in video stores long before Enron imploded.
To sum up, quite a nice thriller, and not a chainsaw or Münch-mask in sight. Recommended.
Dotacion
1. Neil Bush could find himself in the limelight 2. As well his more powerful brother 3. Rogue Trader was not released theatrically in the states, to the best of my knowledge.
It is not hard to figure out why The Great Financial scandals are overlooked by Hollywood. The tales are not only apt to get so bogged down by confusion and spin, but the threat of lawsuit and small box office[3] means the double whammy effect is on, so of course would never get greenlighted.
As it stands, the makers of Rogue Trader give it the dramatic treatment it needs to please a high-finance numpty like myself, more interested in the drama of it all, and kept me interested to the end. It (thankfully) never bogged down in exposition, trying to explain the intricacy of it all. Deft.
Playing fast and loose doesn't excuse Nick Leeson from being the sole agent of doom for Barings, and his crime is not molly-coddled here. You understand what propelled him. You also might find yourself wondering if the checks and balances which failed to catch his back room shenanigans are are also lacking here, in the over regulated and under staffed U.S. commissions (Helllooooo SEC!). Talk about scary!
And to top it all, this film was in video stores long before Enron imploded.
To sum up, quite a nice thriller, and not a chainsaw or Münch-mask in sight. Recommended.
Dotacion
1. Neil Bush could find himself in the limelight 2. As well his more powerful brother 3. Rogue Trader was not released theatrically in the states, to the best of my knowledge.
Oh Dear!
Dr Gonzo11 January 1999
Where to start.... Okay firstly, unless you've been in hibernation the last few years you'll know the name Nick Leeson. The film follows Leeson through his days as a futures trader for Barings Bank (the oldest merchant bank in England) and his transfer to South-east Asia, through to the eventual collapse of said bank and Leeson's imprisonment.
I'm not quite sure why 'Rogue Trader' was even made, either it's pro-Leeson and sees him as a courageous boss protecting his incompetent employees (yeah, right!) or the film merely tries to explain this particular corner of history. On both counts 'Rogue Trader' is left severely lacking, although McGregor tries valiantly, portraying Leeson as anything other than a spoilt child would seem impossible.
The rest of the cast cannot however even be accused of trying to breath some life into this tepid affair. Friel appears disinterested (a feeling I felt all too often) as do Leeson's superiors.
As much as I would like to promote this film, with its distinctly English cast, I'm afraid it's a lost hope. If you want I imagine you could spend a few hours trying to find some hidden meaning that would make the whole experience worthwhile, but you probably won't and who could blame you.
Stay away unless you want your opinion of Ewan McGregor tainted and your view of Anna Friel confirmed!
I'm not quite sure why 'Rogue Trader' was even made, either it's pro-Leeson and sees him as a courageous boss protecting his incompetent employees (yeah, right!) or the film merely tries to explain this particular corner of history. On both counts 'Rogue Trader' is left severely lacking, although McGregor tries valiantly, portraying Leeson as anything other than a spoilt child would seem impossible.
The rest of the cast cannot however even be accused of trying to breath some life into this tepid affair. Friel appears disinterested (a feeling I felt all too often) as do Leeson's superiors.
As much as I would like to promote this film, with its distinctly English cast, I'm afraid it's a lost hope. If you want I imagine you could spend a few hours trying to find some hidden meaning that would make the whole experience worthwhile, but you probably won't and who could blame you.
Stay away unless you want your opinion of Ewan McGregor tainted and your view of Anna Friel confirmed!
Pleasantly surprised
Circe-921 January 2000
I knew almost nothing about the Barings Bank collapse and absolutely nothing about futures trading before seeing this movie. Still, I enjoyed it quite a bit. Yes, it is told from Nick Leeson's point of view, so it should probably be taken with a huge grain of salt, but it was still quite enjoyable and interesting. One of Ewan McGregor's strengths as an actor is his ability to make the audience root for his somewhat shady characters. He was wonderful in this movie. Of course, I still don't know a thing about futures trading.
See also
Awards | FAQ | User Ratings | External Reviews | Metacritic Reviews
