barings bank board of directors

Sierra Income merged with Barings BDC, Inc. in February, 2022, in connection with which Ms. Lancaster-Beal was appointed to the Board of Directors of Barings BDC, Inc. Ms. Lancaster-Beal currently serves on the Board of Directors of KIPP NYC, a network of free, public charter schools. This mission continues to drive the firm today. Read, watch and listen to the latest insights from our global investment teams. Setting general company goals. Hiring and firing of senior executives (especially the CEO) Establishing compensation for executives. 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. 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. Dr. Harris brings substantial executive, board and operations experience to Barings. 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. 3. Massive Losses incurred by Nick Leeson, the General Manager and Head Trader of Barings Financial Services (BFS) by reason of unauthorised and concealed trading activities within BFS. If you have questions or would like more information about our offerings, please get in touch with us. in Economics from Long Island University. Select from premium Barings Bank of the highest quality. 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. Was the Barings Bank Board of Directors culpable for the losses of Nick Leeson? Additionally, Robert serves as a member of the Board of Managers of Veracity Worldwide LLC. One of its main duties in this capacity is to limit the bank's exposure to excessive risk of all kinds, including legal, reputational and financial. Barings Insurance Solutions group develops customized solutions leveraging the firms experience and capabilities across public and private asset classes. In 1995, Barings - then the oldest bank in Britain . On Sunday 26 February 1995, the 200-year old merchant bank blew up thanks to derivatives trading, which it believed was both risk-free and highly profitable. The average Barings hourly pay ranges from approximately $30 per hour for an Intern to $65 per hour for a Summer Analyst. Mark joined Highwoods in September 2014. Our funds offer access to specialized strategies across global fixed income. Ironsides and related entities serve as the manager and general partner to various funds and managed accounts for institutional clients. It was neither of these things. 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. In December 2014, Mr. Byers was recognized by the National Association of Corporate Directors as a Board Leadership Fellow. In some jurisdictions this website may contain advertising. Apart from serving as a Non-Executive Director of BNF Bank p.l.c., Mr Borg also chairs the Bank's Credit Approval Committee. Ironsides and related entities serve as the manager and general partner to various funds and managed accounts for institutional clients. Barings Insurance Solutions group develops customized solutions leveraging the firms experience and capabilities across public and private asset classes. Our broad capabilities allow us to go beyond traditional fixed income strategies and access investments spanning the quality, yield and liquidity spectrum. Managing Risk. and "Blueprint Communities" is a registered service mark of the Federal Home Loan Bank of . Beal & Company, which she co-founded in April 1988, until 2014. He is also an independent board director of Heliconia Capital Management, an investment firm owned by Temasek focused on growth oriented Singapore companies, and is Chairman of the Singapore Government's Health Promotion Board. Copyright 2023 Barings. The collapse of Baring's Bank in 1995 occurred principally as a result of huge losses that resulted from unauthorized derivatives trading activity by the head of the Singapore office Nick Leeson. Barings subadvises a series of mutual funds for MassMutual Funds. a steering committee convened by the Board of Governors of the Federal Reserve System and the Federal Reserve Bank of New York and comprised of large U.S. financial institutions, has recommended the use of the Secured Overnight Financing Rate, SOFR. Our global presence and longstanding expertise allows us to evaluate and capture the yield potential of illiquid and less liquid credit-based investments. Barings BDC, Inc. stockholders and other interested parties may communicate with any member of our Board (including the chairman), the chairman of any of our Board committees, or with our non-management directors as a group by sending communications to Barings BDC, Inc., 300 South Tryon St., Suite 2500, Charlotte, North Carolina 28202, or via e-mail to BDCinvestorrelations@barings.com, or by calling the Barings BDC, Inc.s investor relations department at 1-888-401-1088. Dr. Harris is also the Chief Executive Officer and Managing Partner of Vesalius Ventures, Inc. a venture capital firm that invests in early- to mid-stage healthcare technologies and companies. 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. 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. "There was a stack of paper, "recalls visiting official Tony Railton, senior clerk for . 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. Sierra Income merged with Barings BDC, Inc. in February, 2022, in connection with which Ms. Lancaster-Beal was appointed to the Board of Directors of Barings BDC, Inc. Ms. Lancaster-Beal currently serves on the Board of Directors of KIPP NYC, a network of free, public charter schools. Ben Dubow This year marks 25 years since the failure of Barings Bank. Mark joined Highwoods in September 2014. 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. This mission continues to drive the firm today. Prior to joining the firm in 2008, he was a Vice President with Wachovia Securities Leveraged Finance Group, where he was responsible for sell-side origination of leveraged loans and high yield bonds to support both corporate and private equity issuers. John Houblon (1694-1699, 1700-1712) (First Governor 1694-1697) 9 Pages. He currently serves on the board of McKim and Creed, a North Carolina based professional engineering services firm. 17. 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. Board of Directors. 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. At Barings, we strive to act responsibly today in order to help deliver a more sustainable tomorrow. Before these roles, he served as the Lead Independent Director of MVC Capital, Inc., was an independent, nonexecutive director of Castle Private Equity AG, and was formerly a director of MPC Container Ships. Position. If you have questions or would like more information about our offerings, please get in touch with us. 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 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. We build high-conviction portfolios based on fundamental, bottom-up research and ESG integration, seeking to identify companies with strong growth potential. Our broad capabilities allow us to go beyond traditional fixed income strategies and access investments spanning the quality, yield and liquidity spectrum. Maintaining company resources. 4. . Barings' team-based culture seeks to deliver long-term financial security and builds a sustainable future in service to our clients, colleagues and communities. Throughout history, Barings has been a leader in providing global, innovative, diversified solutions to clients. In 2021, Androscoggin Bank became a Certified B Corporation , joining only nine other banks nationally to meet the highest standards of verified social and environmental performance, public transparency and legal accountability. Our experienced team seeks differentiated sources of return across private equity, real assets and asset-based investments. Prior to PaineWebber, Mr. Byers was an executive at Citibank/Citicorp from 1979 to 1986. Among its many accomplishments over the centuries, Barings financed both the Louisiana Pur- chase in 1803 and the Napoleonic Wars. 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. With investment professionals based in North America, Europe and Asia Pacific, the firm, a subsidiary of MassMutual, aims to serve its clients, communities and employees, and is committed to sustainable practices and responsible investment. 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 from the University of Washington, and an M.B.A. from Wake Forest University. The Chairman of the Committee is Mr Jean-Bernard Lvy. . Prior to his current role, he served as Head of Barings U.S. High Yield Credit Research Group. 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. Michael is the CEO and chairman of CAS. As Britain prospered, so did the bank and Sir Francis Baring. 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. in Finance from the University of Virginia, McIntire School of Commerce. leadership details. This document contains the following information: Report of the Board of Banking Supervision inquiry into the circumstances of the collapse of Barings. Company profile for Barings BDC Inc. including key executives, insider trading, ownership, revenue and average growth rates. Our experienced team seeks differentiated sources of return across private equity, real assets and asset-based investments. The link below will redirect you to their website for more information. 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. Barings Bank was initially used to finance the family's wool trading business, but then expanded to include shipping and all aspects of international trade. 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. Errors were of omission - lacked clear reporting lines in the highly political matrix organization; no one pressed Leeson to provide information and the Board did not pressure the management committee to formulate the risk-reporting . Eric is an Executive Sponsor of both the Veterans and the Out & Allies Employee Resource Groups. . Copyright 2023 Barings. In this capacity, she previously served as the Chief Financial Officer of Odyssey Media from 2015 to 2021, and as the Chief Administrative and Finance Director of Data Capital Management from 2015 to 2017. 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. Mr Borg is currently the CEO and an Executive Director of PG p.l.c which has recently been listed on the Malta Stock Exchange, and holds a number of other non-executive directorship positions in Malta. 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. in Economics from Georgetown University and an M.B.A. from the Wharton School of Business of the University of Pennsylvania. Visit our Global Site. 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. Barings BDC, Inc. is an externally managed, closed-end management investment company that has elected to be regulated as a business development company ("BDC") under the Investment Company Act of 1940, as amended. David has worked in the financial services industry since 2004. Download 454 KB. In some jurisdictions this website may contain advertising. All rights are reserved. 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. She is on several non-profit boards and active in the community with a focus on education, the arts, and homeless prevention. At Barings, we strive to act responsibly today in order to help deliver a more sustainable tomorrow. 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. Join Our Relations Mailing List . 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). Barings's investors also lost out. 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. Recent scandals such as Enron and WorldCom and earlier ones like Maxwell (Clarke, 1993) and Barings Bank (Hogan, 1997) cast doubt on the effectiveness of the unitary board while failures such as . Jill received a Bachelor of Science from Clemson University and a Masters in Organization Behavior and Development from Fielding University. In the end, his losses accounted for 827 million (or $1.4 billion), twice Barings's available trading capital. shareholders not already directors of the bank at the time. 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 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. Robert is also a director of Okeanis Eco Tankers, Emergent Capital, and the Pacific Alliance Asia Opportunity Fund and its related entities and Pacific Alliance Group Asset Management Ltd., based in Hong Kong. Barings Bank, previously known as Baring Brothers & Co. In the non-profit sector, Robert serves as a director of the Massachusetts Eye and Ear Infirmary, and is a Trustee of the Childrens School of Science and the Sea Education Association. Barings Insurance Solutions group develops customized solutions leveraging the firms experience and capabilities across public and private asset classes. If you have questions or would like more information about our offerings, please get in touch with us. 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 . Mark Mulhern. 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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