Copyright 2023 Barings. Create new Board. in Economics from Long Island University. Managing Director & Country Head of China. Ms. Lancaster-Beal was a Senior Vice President of Drexel Burnham Lambert from 1984 to 1988 and as Vice President of Citicorp Investment Bank from 1978 to 1984. Download 454 KB. David holds a B.S. Prior to joining Catawba Lands Conservancy, he served as Global Head of Syndicated Capital Markets at Bank of America Merrill Lynch, where he managed capital markets, sales, trading and research for the United States, Europe, Asia and Latin America from 1989 to 2010. We are committed to sustainable practices and responsible investment. Nick Leeson, the bank's then 28-year-old head of derivatives in . With investment professionals based in North America, Europe and . Prior to this, she formed and led the Leadership Practices Group at Wachovia to create and implement a company-wide talent management process that identified, developed, tracked and promoted high potential leaders throughout their careers. Additionally, the strategies and funds may not be available to all investor types in all jurisdictions. Androscoggin Bank Headquartered in Lewiston, Maine, the Bank has been fiercely independent for 150 years. He appointed his personal lawyer and architect to be independent members of the board. Chairman and CEO, Barings LLC Mike Freno is Chairman and CEO of Barings LLC, a $391+ billion global financial services firm with offices across the U.S., Europe, Australia and Asia. Since 2014, Mr. Byers has been engaged periodically as an independent . Our team secures access to investments across the risk spectrum and around the globe, applying an active management approach designed to maximize each asset's potential. He completed his residency in Internal Medicine at the Mayo Clinic, completed a National Research Council Fellowship in Endocrinology at the NASA Ames Research Center, and trained as a Flight Surgeon at the Aerospace School of Medicine, Brooks Air Force Base. Our funds offer access to specialized strategies across global fixed income. Loading . Before joining Palestra, Mr. Carter was a high yield analyst at Furman Selz LLC (ING Barings), where he was responsible for coverage of healthcare-related high yield debt. You can communicate with our Board of Directors by sending a letter addressed to the Board of Directors, non-management directors or specified individual directors to: . Read or watch our latest perspectives on ESG and sustainability. The board is also tasked with a number of other responsibilities, including the following: Creating dividend policies. He previously served on the Highwoods Board of Directors and Audit Committee from 2012 through 2014. If you have questions or would like more information about our offerings, please get in touch with us. This material should not be construed as a recommendation, and Barings is not soliciting any action based upon such information. Mr. Byers is a senior executive with over 30 years of leadership experience in finance, operations and control, investment management and capital markets with leading national firms in asset management, banking and brokerage. This material should not be construed as a recommendation, and Barings is not soliciting any action based upon such information. Throughout history, Barings has been a leader in providing global, innovative, diversified solutions to clients. The BARINGS name and logo design are trademarks of Barings and are registered in U.S. Patent and Trademark Office and in other countries around the world. Prior to joining Dreyfus Corporation, Mr. Byers served in executive positions at PaineWebber Group from 1986 to 1997, and served in such capacities as chairman of the Investment Policy and Risk Oversight Committee, Capital Markets Director of Risk and Credit Management, and was NASD registered as General Principal, Financial and Operations Principal and Branch Principal. At Barings, we strive to act responsibly today in order to help deliver a more sustainable tomorrow. Mark currently serves as Senior Vice President and Chief Financial Officer at Highwoods Properties, Inc., a Raleigh, North Carolina based publicly-traded real estate investment trust. Ms. Lancaster-Beal is the President and Chief Executive Officer of VLB Associates, a management consulting firm she founded in January 2014 that provides financial and operational advisory services to middle-market businesses, investment firms and non-profit organizations. Mark currently serves as Senior Vice President and Chief Financial Officer at Highwoods Properties, Inc., a Raleigh, North Carolina based publicly-traded real estate investment trust. Copyright 2023 Barings. Jill brings over 20 years of senior leadership experience in human resources to the financial services industry where she was Managing Director from 2006 to 2009 and Executive Vice President from 2000 to 2006 at Wachovia Corporation (now Wells Fargo). He is a principal and director of Africa Opportunity Partners Limited, a Cayman Islands company that serves as the investment manager to Africa Opportunity Fund Limited. Former senior directors of Barings, the bank which collapsed in 1995, face being banned from acting as company directors for up to 15 years as a result of action being taken by the Department of . He is also Chairman of the U.S. High Yield Investment Committee, a member of the Global High Yield Allocation Committee and a portfolio manager on various high yield strategies. Additionally, the strategies and funds may not be available to all investor types in all jurisdictions. He previously served on the Highwoods Board of Directors and Audit Committee from 2012 through 2014. Previously, Richard held various roles in Barings Bank, which he joined in 1976, latterly as Head of Barings . Key Points. In some jurisdictions this website may contain advertising. With offices on four continents, we have the global perspective and local presence to uncover and provide access to a superior range of investment opportunities. In this interview-style podcast, we offer insight into where our global teams are seeing risks and opportunities today. He was a director of Pye Holdings from 1967 to 1979. With over 300 global investment professionals positioned in local markets, and a flexible capital base, we can provide solutions across a range of private asset classes. By selecting Continue, you will leave U.S. Bank and enter a third-party Web site. Jill received a Bachelor of Science from Clemson University and a Masters in Organization Behavior and Development from Fielding University. In some jurisdictions this website may contain advertising. All such communications should indicate clearly the director or directors to whom the communication is being sent so that each communication, other than unsolicited commercial solicitations, may be forwarded directly to the appropriate director(s). Barings subadvises a series of mutual funds for MassMutual Funds. Prior to this, she served as Managing Director at M.R. Eric is an Executive Sponsor of both the Veterans and the Out & Allies Employee Resource Groups. She has built a reputation as an executive with a strategic and pragmatic approach to talent management with an eye toward bottom line results. Eric has worked in the industry since 1990 and his experience has encompassed leadership positions in investment management, investment banking, leveraged finance and risk management. The board of directors of Barings BDC has named Eric Lloyd as executive chairman of the board and promoted three of its longstanding senior executive officers. If you have questions or would like more information about our offerings, please get in touch with us. Collections; Project #ShowUs; Creative Insights; . Apart from serving as a Non-Executive Director of BNF Bank p.l.c., Mr Borg also chairs the Bank's Credit Approval Committee. Our integrated platform is focused on providing investors attractive, through-the-cycle risk-adjusted returns that are less correlated with traditional debt and equity markets. Barings BDC, Inc. 300 South Tryon Street With a more than double increase in participation, from 69 participating institutions in 2019 to 172 in 2021, it's clear that board of directors' compensation and the associated pay practices and governance issues . Mr. Byers is a senior executive with over 30 years of leadership experience in finance, operations and control, investment management and capital markets with leading national firms in asset management, banking and brokerage. Before the acquisition of Wachovia, Eric worked in Wachovia's Global Markets Investment Banking division and served on the division's Operating Committee where he had various leadership positions, including Head of Wachovia's Global Leveraged Finance Group. Prior to this, she formed and led the Leadership Practices Group at Wachovia to create and implement a company-wide talent management process that identified, developed, tracked and promoted high potential leaders throughout their careers. Sound Corporate Governance Policies (365 kb)* and practices are important to add shareholder value and maintain the confidence of depositors and investors alike. Barings Bank, a British merchant bank, was on the verge of collapse in 1995 after reportedly having incurred losses of 827 million (1.6 billion eqv. 4. Prior to this, she formed and led the Leadership Practices Group at Wachovia to create and implement a company-wide talent management process that identified, developed, tracked and promoted high potential leaders throughout their careers. Prior to this, she served as Managing Director at M.R. Visit our Global Site. Prior to joining Barings in 2013, Eric served as Head of Market and Institutional Risk for Wells Fargo, was on Wells Fargo's Management Committee, and was a member of the Board of Directors of Wells Fargo Securities. When Nick Leeson's fraud was discovered in 1995, the banks claimed they already knew how this broker had managed to circumvent the financial institution and claimed that the loopholes in the bank's system had been . Our broad capabilities allow us to go beyond traditional fixed income strategies and access investments spanning the quality, yield and liquidity spectrum. He also spent eight years at Price Waterhouse. Copyright 2023 Barings. He was Chairman of the Board of the Barings Bank from 1974 to 1989. . The Board of Directors of OP Corporate Bank is responsible for organising and maintaining adequate and effective internal control. Ironsides and related entities serve as the manager and general partner to various funds and managed accounts for institutional clients. Jill brings over 20 years of senior leadership experience in human resources to the financial services industry where she was Managing Director from 2006 to 2009 and Executive Vice President from 2000 to 2006 at Wachovia Corporation (now Wells Fargo). Ms. Lancaster-Beal served as an Independent Director and Chair of the Nominating and Governance committee and the Audit committee of Sierra Income Corporation, a non-traded business development company (BDC) sponsored by Medley LLC (NYSE:MCC), from 2021 to 2022. Thomas brings over 20 years of experience in the underwriting, structuring, distribution and trading of debt used for corporate acquisitions, leveraged buyouts, recapitalizations and refinancings. In this interview-style podcast, we offer insight into where our global teams are seeing risks and opportunities today. Mr. Byers received his M.B.A. in Finance from Roth Graduate School of Business, Long Island University and his B.A. This is an incomplete list of Bank of England directors from the bank's foundation in 1694: . This followed the discovery of massive trading losses incurred by Barings Futures Singapore (BFS), an . The Bank had been founded by his ancestor Francis Baring in 1762. John currently serves on the boards of The Mint Museum and the National Association of Corporate Directors, Carolinas Chapter. In some jurisdictions this website may contain advertising. The opinions and other information contained herein, whether express or implied are made in good faith in relation to the facts known at the time of preparation and are subject to change without notice. in Economics from Long Island University. Mr. Byers received his M.B.A. in Finance from Roth Graduate School of Business, Long Island University and his B.A. Barings had been founded in 1762 by Francis Baring and overseen by generations of his wealthy, privileged descendants. The Chairman of the Committee is Mr Jean-Bernard Lvy. He also acted as managing director for over ten years with Millennium Partners. Our team secures access to investments across the risk spectrum and around the globe, applying an active management approach designed to maximize each asset's potential. They were sons of John (n Johann) Baring, wool trader of Exeter, born in Bremen, Germany.The company started business in offices off Cheapside in London, and within a few years moved to larger quarters in Mincing Lane. The staff at Baring Futures Singapore pried open a drawer always kept locked by Nicholas Leeson in February. This material should not be construed as a recommendation, and Barings is not soliciting any action based upon such information. Visit our Global Site. Supporting executives and their teams. Barings is a $349+ billion* global investment manager sourcing differentiated opportunities across public and private fixed income, real estate, and specialist equity markets. Hiring and firing of senior executives (especially the CEO) Establishing compensation for executives. Our team secures access to investments across the risk spectrum and around the globe, applying an active management approach designed to maximize each asset's potential. 2022 Barings PARTICIPATION INVESTORS 2022 Annual Report BARINGS. This mission continues to drive the firm today. The Committee is composed of five directors: Jean-Bernard Lvy, Jrme Contamine, France Houssaye, Grard Mestrallet and Juan-Maria Nin Genova. Mark currently serves as Senior Vice President and Chief Financial Officer at Highwoods Properties, Inc., a Raleigh, North Carolina based publicly-traded real estate investment trust. Read our latest news, meet our experts and explore our content. With investment professionals based in North America, Europe and Asia Pacific, the firm, a subsidiary of MassMutual, aims to serve its . Dr. Harris is the recipient of numerous awards, including nine (9) honorary doctorates, NASA Space Flight Medal, NASA Award of Merit, a fellow of the American College of Physicians, and was the recipient of the 2000 Horatio Alger Award. Prior to these positions, he served as a Clinical Scientist, Flight Surgeon and Astronaut for NASA. In some jurisdictions this website may contain advertising. He is the Founder and Chief Investment Officer of Ironsides Partners LLC, a Boston based investment manager specializing in closed-end funds, holding companies, and asset value investing generally. The Court of Directors of the Bank of England originally consisted of 24 shareholders, of which 8 were replaced every year by new members, i.e. He left a $1.4 billion hole in Barings' balance sheet due to his unauthorized derivatives speculation, causing the 233-year-old bank's demise. | March 1, 2023 . The Amazing Outside Directors Award recognizes people who invest in the success of their local community banks by contributing skills, insights and analysis to bank governance, all while . GA30503 Financial Risks Management Sem 1 2020/2021 Assignment 2 (15%) Case study: The collapse of Barings Bank - What can we learn from this derivatives mishap It was a startling discovery. He holds a B.S. Nominating and Corporate Governance Committee Charter, Barings is a $349+ billion* global investment manager sourcing differentiated opportunities across public and private fixed income, real estate, and specialist equity markets. shareholders not already directors of the bank at the time. Barings Insurance Solutions group develops customized solutions leveraging the firms experience and capabilities across public and private asset classes. 1. So, Barings Bank was declared insolvent on February 26, 1995, and was bought by Dutch bank ING for the symbolic sum of 1 pound. We build high-conviction portfolios based on fundamental, bottom-up research and ESG integration, seeking to identify companies with strong growth potential. Barings is a $347+ billion* global investment manager sourcing differentiated opportunities and building long-term portfolios across public and private fixed income, real estate, and specialist equity markets. Since 2016, Mr. Byers has also served as a board member of the Mutual Fund Directors Forum, an independent, non-profit organization serving independent directors of U.S. funds registered with the Securities and Exchange Commission under the 1940 Act. Since 2016, Mr. Byers has also served as a board member of the Mutual Fund Directors Forum, an independent, non-profit organization serving independent directors of U.S. funds registered with the Securities and Exchange Commission under the 1940 Act. Location not listed? Prior to PaineWebber, Mr. Byers was an executive at Citibank/Citicorp from 1979 to 1986. The wave of bank and savings and loan failures in the 1980s and early 1990s, and the resulting losses to deposit insurance funds, served to highlight the need for banks to hold sufficient capital . Mark joined Highwoods in September 2014. Learn More About FHLBank Pittsburgh Corporate Governance. 17. Barings is a $347+ billion* global investment manager sourcing differentiated opportunities and building long-term portfolios across public and private fixed income, real estate, and specialist equity markets. Prior to these positions, starting in 2007 John served as managing partner in KPMG's Charlotte office and became the Chair of the Charlotte office in 2009 until retirement in 2016, where he was the market leader for KPMG's Carolinas, Florida, and San Juan offices. { board.total_asset_count }} View all Boards View all Sets CREATE BOARD. With the wise guidance of today's business leaders, the Belk College remains at . from the United States Air Force Academy, an M.S. He completed his residency in Internal Medicine at the Mayo Clinic, completed a National Research Council Fellowship in Endocrinology at the NASA Ames Research Center, and trained as a Flight Surgeon at the Aerospace School of Medicine, Brooks Air Force Base. By the later decades of the 20th century, its culture . . Jill brings over 20 years of senior leadership experience in human resources to the financial services industry where she was Managing Director from 2006 to 2009 and Executive Vice President from 2000 to 2006 at Wachovia Corporation (now Wells Fargo). Sierra Income merged with Barings BDC, Inc. in February, 2022, in connection with which Mr. Byers was appointed to the Board of Directors of Barings BDC, Inc. From 2002 to 2012, Mr. Byers also served as Trustee for the College of William and Mary Graduate School of Business. He also acted as managing director for over ten years with Millennium Partners. Our experienced team seeks differentiated sources of return across private equity, real assets and asset-based investments. Before that, he served as managing partner of KPMG's Cleveland from 1999 to 2007 and the Louisville and Lexington offices in Kentucky from 1988 to 1995. Prior to joining Barings in 2013, Eric served as Head of Market and Institutional Risk for Wells Fargo, was on Wells Fargo's Management Committee, and was a member of the Board of Directors of Wells Fargo Securities. Read, watch and listen to the latest insights from our global investment teams. In this capacity, she was both the Head of Human Resources for the Corporate and Investment Bank and the Head of Human Resources for the International Businesses, responsible for HR services. Sierra Income merged with Barings BDC, Inc. in February, 2022, in connection with which Mr. Byers was appointed to the Board of Directors of Barings BDC, Inc. From 2002 to 2012, Mr. Byers also served as Trustee for the College of William and Mary Graduate School of Business. Ms. Lancaster-Beal served as an Independent Director and Chair of the Nominating and Governance committee and the Audit committee of Sierra Income Corporation, a non-traded business development company (BDC) sponsored by Medley LLC (NYSE:MCC), from 2021 to 2022. The 200-year-old Barings Bank was brought to its knees in 1995 in one month, when the rouge trader, Nicholas W. Leeson, gambled $29 billion speculating on the price of Japanese stocks and bonds using derivatives. Barings' team-based culture seeks to deliver long-term financial security and builds a sustainable future in service to our clients, colleagues and communities. four of its members are independent directors. We build high-conviction portfolios based on fundamental, bottom-up research and ESG integration, seeking to identify companies with strong growth potential. We build high-conviction portfolios based on fundamental, bottom-up research and ESG integration, seeking to identify companies with strong growth potential. Ms. Lancaster-Beal holds a B.A. Our global presence and longstanding expertise allows us to evaluate and capture the yield potential of illiquid and less liquid credit-based investments. Sierra Income merged with Barings BDC, Inc. in February, 2022, in connection with which Mr. Byers was appointed to the Board of Directors of Barings BDC, Inc. From 2002 to 2012, Mr. Byers also served as Trustee for the College of William and Mary Graduate School of Business. Our experienced team seeks differentiated sources of return across private equity, real assets and asset-based investments. Barings's investors also lost out. Was the Barings Bank Board of Directors culpable for the losses of Nick Leeson? Executive Chairman of the Board and Chief Executive Officer. The BARINGS name and logo design are trademarks of Barings and are registered in U.S. Patent and Trademark Office and in other countries around the world. . He currently serves as Chief Executive Officer and Director of the National Math and Science Initiative, a non-profit organization focused on increasing student opportunities and achievement and teaching effectiveness in STEM education. In December 2014, Mr. Byers was recognized by the National Association of Corporate Directors as a Board Leadership Fellow. If you have questions or would like more information about our offerings, please get in touch with us. The Barings Investment Institute explores the forces that shape long-term investment and capital decisions. The link below will redirect you to their website for more information. Jill is a Founding Partner of Spivey & Olmstead, LLC, a talent and leadership consulting firm with expertise in the fields of executive development and talent management founded in June 2010. The board of directors not only helps lay out the bank's goals, but acts as a watchdog as well. David serves as Head of U.S. Public Fixed Income at Barings, with primary responsibility for the U.S. High Yield and Investment Grade Investment Groups. The link below will redirect you to their website for more information. She also previously served as a Trustee on the Board of the City University of New York from 2000 to 2014, where she chaired the Faculty, Staff and Administration Committee and served on the Finance Committee. By managing risk judiciously, the board tries to maintain a balance between enterprise . He also spent eight years at Price Waterhouse. Mr. Byers serves as the Independent Chairman of the Board of Directors of Deutsche Bank DBX ETF Trust and as a member of the audit and nominating committees. She also previously served as a Trustee on the Board of the City University of New York from 2000 to 2014, where she chaired the Faculty, Staff and Administration Committee and served on the Finance Committee. He joined Progress Energy in 1996 as Vice President and Controller and served in a number of roles, including Vice President of Strategic Planning, Senior Vice President of Finance and President of Progress Ventures. John Switzer is currently a member of the Board of Directors of Carolina Tractor and Equipment Company, a large, privately held southeastern supplier that specializes in material handling, engineered systems, truck engines, power generation systems, and they supply construction, forestry, and paving products. The bank collapsed in 1995 after suffering losses of 827 million (1.7 billion in 2021 . Read our latest news, meet our experts and explore our content. "There was a stack of paper, "recalls visiting official Tony Railton, senior clerk for . A career at Barings means joining a world-class firm with a collegial culture and rich history in asset management. We are committed to sustainable practices and responsible investment. Jill received a Bachelor of Science from Clemson University and a Masters in Organization Behavior and Development from Fielding University. Mark is a Certified Public Accountant and is a graduate of St. Bonaventure University. He also acted as managing director for over ten years with Millennium Partners. Read, watch and listen to the latest insights from our global investment teams. Read our latest news, meet our experts and explore our content. He currently serves on the board of McKim and Creed, a North Carolina based professional engineering services firm. He earned a Bachelor of Science in Biology from the University of Houston, a Master of Medical Science from the University of Texas Medical Branch at Galveston, a Master of Business Administration from the University of Houston, and a Doctorate of Medicine from Texas Tech University School of Medicine. He holds a B.S. The company's board of director consists of 9 directors; 6 independent directors and 3 executive directors. As Britain prospered, so did the bank and Sir Francis Baring. It was bailed out by the Bank of England. Additionally, Ms. Lancaster-Beal served on the Board of Regents of Georgetown University from 2006 to 2010. The opinions and other information contained herein, whether express or implied are made in good faith in relation to the facts known at the time of preparation and are subject to change without notice. Our global presence and longstanding expertise allows us to evaluate and capture the yield potential of illiquid and less liquid credit-based investments. Leeson worked at the Singapore branch of Barings Bank PLC, the blue-blooded British merchant bank founded in 1763 that catered to royalty and was at the pinnacle of the London financial world. P. 223-224 Yes. John currently serves on the boards of The Mint Museum and the National Association of Corporate Directors, Carolinas Chapter. Barings Insurance Solutions group develops customized solutions leveraging the firms experience and capabilities across public and private asset classes. *As of June 30, 2022. Managing Risk. Eric also works closely with all the investment teams at Barings LLC. leadership details. From 2000 to 2006, Mr. Byers served as an investment executive with Dreyfus Corporation and served as Vice Chairman, Executive Vice President, Chief Investment Officer, member of the Board of Directors and Executive Committee, and fund officer of 90 investment companies, responsible for investment performance of approximately $200 billion in assets under management. Before the acquisition of Wachovia, Eric worked in Wachovia's Global Markets Investment Banking division and served on the division's Operating Committee where he had various leadership positions, including Head of Wachovia's Global Leveraged Finance Group. Prior to joining Dreyfus Corporation, Mr. Byers served in executive positions at PaineWebber Group from 1986 to 1997, and served in such capacities as chairman of the Investment Policy and Risk Oversight Committee, Capital Markets Director of Risk and Credit Management, and was NASD registered as General Principal, Financial and Operations Principal and Branch Principal. Barings subadvises a series of mutual funds for MassMutual Funds. Mark joined Highwoods in September 2014. Throughout history, Barings has been a leader in providing global, innovative, diversified solutions to clients. The collapse of Baring Bank. Eric has worked in the industry since 1990 and his experience has encompassed leadership positions in investment management, investment banking, leveraged finance and risk management. We are deliberate in our direction, partnerships and decision making to achieve long-term, lasting change. Barings Bank Although due to the failure of other bank, famous, called the "Queen's bank", Baring's story differs from that of Lehman Brothers, a story Prior to this, she served as Managing Director at M.R. Since 2014, Mr. Byers has been engaged periodically as an independent consultant to provide expert reports and opinions in financial and investment related matters. Compensation & Benefits. Our funds offer access to specialized strategies across global fixed income. He previously served on the Highwoods Board of Directors and Audit Committee from 2012 through 2014. Thomas brings over 20 years of experience in the underwriting, structuring, distribution and trading of debt used for corporate acquisitions, leveraged buyouts, recapitalizations and refinancings. He currently serves as trustee or director of several public companies and non-profit organizations, including as Trustee of Barings Global Short Duration High Yield Fund, a closed-end investment company advised by Barings, Trustee of the Horizon Funds, a mutual fund complex, Trustee of Davidson College, and Director of CrossRoads Corporation for Affordable Housing and Community Development, Inc. Thomas holds a Bachelor of Arts in Economics from Davidson College and a Masters of Management, Finance, Accounting and Marketing from Kellogg School of Management, Northwestern University.
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