This post is part of a series on some of the most memorable companies that have disappeared.

I credit Nick Leeson for creating jobs for lots of my friends. Back in 1995, when he single-handedly brought down Barings Bank with currency trading run amok, I had never heard the term "risk management." But I soon started hearing right and left of friends getting highly paid jobs at financial firms in the "risk management" department.

Apparently, after Mr. Leeson lost $1.4 billion dollars in unauthorized trading rendering Barings insolvent, financial institutions around the world decided to put in more rigorous systems of checks and balances that would keep such things from happening. Hence, newly expanded risk management departments.

Founded in 1762, Barings Bank was the oldest merchant bank in London, financed the Napoleonic Wars, and was the Queen of England's own bank.

Leeson was hired in 1992 to trade currency futures in Singapore. He was supposed to hedge his trading, but soon started speculating wildly. In a story familiar to anyone who has known a failed day trader, he got overconfident after initial trades were successful. Then, when he started to lose money, got way too aggressive trying to make it up (since he was based in Singapore, where he effectively reported to himself and used a hidden account to hide his losses, Barings didn't catch on). In early 1995 the Kobe earthquake, which sent Asian markets south, proved his undoing. Realizing the losses were catastrophic, he fled the country leaving a note at work that said "I'm sorry."

Leeson was eventually arrested, returned to Singapore where he was imprisoned four four years. While in prison, his wife divorced him (after he admitted infidelities with geisha girls), he was diagnosed with colon cancer, and he wrote Rogue Trader, which was later made into a movie.

Barings Bank was sold for one pound to ING, a Dutch bank, which assumed all its liabilities. After a series of transactions over the next ten years, all that remains of the Baring name is a mutual fund subsidiary of MassMutual, Baring Asset Management.

When he was released, he moved to Ireland and is currently the CEO of Galway United Football Club and married with three children. He also wrote a book about coping with stress. According to his own web site, he is in high demand on the dinner speaking circuit.

He also talks to companies on the topic of -- you guessed it -- risk management.

Let us know in the comments what you remember about Barings. And be sure to check out other Companies That Have Vanished.