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 company's board of director consists of 9 directors; 6 independent directors and 3 executive directors. With the wise guidance of today's business leaders, the Belk College remains at . The link below will redirect you to their website for more information. Sound Corporate Governance Policies (365 kb)* and practices are important to add shareholder value and maintain the confidence of depositors and investors alike. Visit our Global Site. Executive Chairman of the Board and Chief Executive Officer. Read our latest news, meet our experts and explore our content. Since 2014, Mr. Byers has been engaged periodically as an independent consultant to provide expert reports and opinions in financial and investment related matters. It deals with the guidelines governing OP Financial Group's internal control, ensures that . 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. Barings' team-based culture seeks to deliver long-term financial security and builds a sustainable future in service to our clients, colleagues and communities. With investment professionals based in North America, Europe and Asia Pacific, the firm, a subsidiary of MassMutual, aims to serve its . 17. 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. Ironsides and related entities serve as the manager and general partner to various funds and managed accounts for institutional clients. Mark is a Certified Public Accountant and is a graduate of St. Bonaventure University. { board.total_asset_count }} View all Boards View all Sets CREATE BOARD. 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. 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. Throughout history, Barings has been a leader in providing global, innovative, diversified solutions to clients. In this interview-style podcast, we offer insight into where our global teams are seeing risks and opportunities today. and "Blueprint Communities" is a registered service mark of the Federal Home Loan Bank of . . Barings employees rate the overall compensation and benefits package 3.7/5 stars. "There was a stack of paper, "recalls visiting official Tony Railton, senior clerk for . 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. 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 was Chairman of the Board of the Barings Bank from 1974 to 1989. Prior to this, she served as Managing Director at M.R. Barings is a $349+ billion* global investment manager sourcing differentiated opportunities across public and private fixed income, real estate, and specialist equity markets. CREATIVE. He was invited several times to the annual meeting of the Bilderberg Group. This mission continues to drive the firm today. 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. Jill works with C-suite executives as an executive coach and helps lead companies' efforts on talent strategies such as diversity and inclusion, employee engagement, and succession planning. Mark joined Highwoods in September 2014. 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. View detailed BBDC description & address. 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. Androscoggin Bank Headquartered in Lewiston, Maine, the Bank has been fiercely independent for 150 years. The board of directors not only helps lay out the bank's goals, but acts as a watchdog as well. Find Barings Bank stock photos and editorial news pictures from Getty Images. In this interview-style podcast, we offer insight into where our global teams are seeing risks and opportunities today. 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. 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. 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. Mr. Byers served as an Independent Director and Chairman of Sierra Income Corporation, a non-traded business development company (BDC) sponsored by Medley LLC (NYSE:MCC), from 2012 to 2022. Was the Barings Bank Board of Directors culpable for the losses of Nick Leeson? During 2019, CAS's profit had fallen 30% and its share price declined. Jill received a Bachelor of Science from Clemson University and a Masters in Organization Behavior and Development from Fielding University. 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). The link below will redirect you to their website for more information. Baring Bank was founded in 1762 by Francis Baring, a . Position. Key Points. Jill received a Bachelor of Science from Clemson University and a Masters in Organization Behavior and Development from Fielding University. 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. Barings Bank was a British merchant bank based in London, and one of England's oldest merchant banks after Berenberg Bank, Barings' close collaborator and German representative.It was founded in 1762 by Francis Baring, a British-born member of the German-British Baring family of merchants and bankers.. 1. Barings Insurance Solutions group develops customized solutions leveraging the firms experience and capabilities across public and private asset classes. Since 2014, Mr. Byers has been engaged periodically as an independent consultant to provide expert reports and opinions in financial and investment related matters. 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. Eric also works closely with all the investment teams at Barings LLC. Additionally, Ms. Lancaster-Beal served on the Board of Regents of Georgetown University from 2006 to 2010. 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 . He also acted as managing director for over ten years with Millennium Partners. Eric is Executive Chairman of the Board and Chief Executive Officer of Barings BDC, Inc. in 2019) resulting from fraudulent investments, primarily in futures contracts. 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. As for Barings, it become part of ING, the Dutch bank paying 1.00 for it in 1995. See Page 1. This was the genuine . 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. Previously, Richard held various roles in Barings Bank, which he joined in 1976, latterly as Head of Barings . Read, watch and listen to the latest insights from our global investment teams. Mr. Byers received his M.B.A. in Finance from Roth Graduate School of Business, Long Island University and his B.A. Copyright 2023 Barings. This material should not be construed as a recommendation, and Barings is not soliciting any action based upon such information. 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. Dr. Harris currently serves as Director or Trustee of several registered investment companies and other public and private organizations. 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. P. 223-224 Yes. 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. Download 454 KB. 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. Managing Risk. With investment professionals based in North America, Europe and Asia Pacific, the firm, a subsidiary of MassMutual, aims to serve its . 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). Beal & Company, which she co-founded in April 1988, until 2014. Additionally, the strategies and funds may not be available to all investor types in all jurisdictions. By selecting Continue, you will leave U.S. Bank and enter a third-party Web site. If you have questions or would like more information about our offerings, please get in touch with us. 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. He was a director of Dunlop Holdings from 1981 to 1984. Location not listed? Prior to this, she served as Managing Director at M.R. David holds a B.S. 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. Jill works with C-suite executives as an executive coach and helps lead companies' efforts on talent strategies such as diversity and inclusion, employee engagement, and succession planning. 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. 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. 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. So, Barings Bank was declared insolvent on February 26, 1995, and was bought by Dutch bank ING for the symbolic sum of 1 pound. Michael is the CEO and chairman of CAS. Barings Insurance Solutions group develops customized solutions leveraging the firms experience and capabilities across public and private asset classes. "Sir Francis eventually became a director and chairman of the East India Company, was elected to Parliament, Mark is a Certified Public Accountant and is a graduate of St. Bonaventure University. Barings had been founded in 1762 by Francis Baring and overseen by generations of his wealthy, privileged descendants. 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. Historical context-"Corporate Portrait: The Economic Might of Barings Bank" Mark joined Highwoods in September 2014. Robert Knapp brings over 25 years of experience in the financial services industry to the Board. With investment professionals based in North America, Europe and . 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. A career at Barings means joining a world-class firm with a collegial culture and rich history in asset management. Robert Knapp brings over 25 years of experience in the financial services industry to the Board. The challenge for boards is to prevent crises in the organisations they govern. We build high-conviction portfolios based on fundamental, bottom-up research and ESG integration, seeking to identify companies with strong growth potential. 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. Since 2014, Mr. Byers has been engaged periodically as an independent consultant to provide expert reports and opinions in financial and investment related matters. Dr. Harris brings substantial executive, board and operations experience to Barings. 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. Mark Mulhern. The Board of Directors collectively represents all shareholders. We use cookies on our website to provide you with the best experience. He appointed his personal lawyer and architect to be independent members of the board. Location not listed? The collapse of Baring's Bank in 1995 occurred principally as a result of huge losses that resulted from unauthorized derivatives trading . The Barings Investment Institute explores the forces that shape long-term investment and capital decisions. Additionally, Ms. Lancaster-Beal served on the Board of Regents of Georgetown University from 2006 to 2010. In 1995, Barings - then the oldest bank in Britain . Visit our Global Site. 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. . 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 . This document contains the following information: Report of the Board of Banking Supervision inquiry into the circumstances of the collapse of Barings. 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. Jonathan ("Jon") Bock has been promoted to CEO of Barings BDC, where he has served as CFO since 2018. David holds a B.S. Board of Directors Definition. Barings subadvises a series of mutual funds for MassMutual Funds. Additionally, Robert serves as a member of the Board of Managers of Veracity Worldwide LLC. 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. Nov 22nd, 2018 Published. Mr. Byers served as an Independent Director and Chairman of Sierra Income Corporation, a non-traded business development company (BDC) sponsored by Medley LLC (NYSE:MCC), from 2012 to 2022. 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. 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. 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. Read our latest news, meet our experts and explore our content. Barings Bank: A British merchant bank that was started in 1762, and for centuries was considered the largest and most stable bank in the world. 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. Our experienced team seeks differentiated sources of return across private equity, real assets and asset-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. 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. 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. 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. 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. We are deliberate in our direction, partnerships and decision making to achieve long-term, lasting change. We build high-conviction portfolios based on fundamental, bottom-up research and ESG integration, seeking to identify companies with strong growth potential. 4. 4 Was the Barings board of directors culpable for the losses of Nick Leeson What from FIN 690G at Wichita State University Many of Leeson's former colleagues lost their jobs. 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. The bank collapsed in 1995 after suffering losses of 827 million (1.7 billion in 2021 . 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. At Barings, we strive to act responsibly today in order to help deliver a more sustainable tomorrow. 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. All rights are reserved. The unholy mess which could have been avoided In the aftermath of Barings' collapse, the Dutch bank ING purchased Barings for the nominal sum of 1, formed the subsidiary ING Barings, and assumed all Barings' liabilities. Ms. Lancaster-Beal is a financial professional with extensive management and board level experience in corporate governance, credit and financial analysis. We are committed to sustainable practices and responsible investment. Performance evaluation is a key means by which boards can recognise and correct corporate governance problems and add real value to their organisations. 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. Ironsides and related entities serve as the manager and general partner to various funds and managed accounts for institutional clients. Mark joined Highwoods in September 2014. The collapse of Baring Bank. In May of this year, Pearl Meyer published the 2021 Banking Board of Directors Compensation and Governance Practices Survey . 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. Mr. Byers received his M.B.A. in Finance from Roth Graduate School of Business, Long Island University and his B.A. Learn More about Barings Insurance Solutions. Our funds offer access to specialized strategies across global fixed income. 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. Breakdown of Risk Controls at Barings Bank. 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. 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. He also acted as managing director for over ten years with Millennium Partners. Company profile for Barings BDC Inc. including key executives, insider trading, ownership, revenue and average growth rates. Through its insightful recommendations, the Board helps us constantly refine and improve our curriculum and programming. 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. A career at Barings means joining a world-class firm with a collegial culture and rich history in asset management. Barings Bank was founded in 1762 as the John and Francis Baring Company by Sir Francis Baring, 1st Baronet, with his older brother John Baring as a mostly silent partner. By the later decades of the 20th century, its culture . 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. Founded in 1762, Barings was the oldest merchant bank in Britain before its collapse in 1995.1 The 233-year-old bank was brought down single-handedly by its employee, Nicholas William Leeson,2 better known as Nick Leeson, a derivatives trader and general manager at the Baring's Singapore office.3 After landing the bank with a debt of S$1.4 . The collapse of Barings Bank in February 1995 was caused by colossal losses incurred by a single rogue trader. Since 2014, Mr. Byers has been engaged periodically as an independent . "Building a sustainable world for future generations requires constant evolution and long-term collaboration to drive lasting positive . Copyright 2023 Barings.