Exhibit 2: An abbreviated organizational structure for Barings prior to the 1993 merging of BB&Co. and BSL. Entities not relevant to this article have been omitted. For example, BSL also had offices in New York and Hong Kong. Source: Bank of England (1995).
In November 1993, BSL was merged into BB&Co. in anticipation of a subsequent initiative to form a Barings Investment Bank (BIB). The merger was not easy because the two firms had markedly different cultures. It was a distraction right in the middle of Leeson’s tenure at BSL. The new organizational structure following the merger is indicated in Exhibit 3.