Allied-Lyons Loss Brews Storm In London As Corporate Treasurers Relook Controls

CORPORATES

When the British baking and brewing concern Allied-Lyons announced last week that it had lost £150 million betting the wrong way on dollar options, the news sent shock waves through corporate treasury departments in the U.K. The storm has sparked a number of finance directors to ask themselves whether their controls on forex traders are adequate to prevent such a disaster from happening in their companies. In addition, a number of bankers, treasurers and consultants say it may even cause a b