barings bank board of directors
Our global presence and longstanding expertise allows us to evaluate and capture the yield potential of illiquid and less liquid credit-based investments. The collapse of Baring's Bank in 1995 occurred principally as a result of huge losses that resulted from unauthorized derivatives trading . With investment professionals based in North America, Europe and Asia Pacific, the firm, a subsidiary of MassMutual, aims to serve its . Baring Bank was founded in 1762 by Francis Baring, a . The Barings Investment Institute explores the forces that shape long-term investment and capital decisions. 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. Additionally, the strategies and funds may not be available to all investor types in all jurisdictions. The Board of Directors collectively represents all shareholders. Copyright 2023 Barings. The board is also tasked with a number of other responsibilities, including the following: Creating dividend policies. Prior to this, she served as Managing Director at M.R. 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 BDC, Inc. 300 South Tryon Street Throughout history, Barings has been a leader in providing global, innovative, diversified solutions to clients. Prior to PaineWebber, Mr. Byers was an executive at Citibank/Citicorp from 1979 to 1986. In addition to these roles, Eric is President of Barings LLC, where he leads and manages cross-asset investment teams, corporate strategy, business development, product management, investment business management, research analytics and quant, permanent capital, special situations, and marketing and communication. Our global presence and longstanding expertise allows us to evaluate and capture the yield potential of illiquid and less liquid credit-based investments. 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. in Economics from Long Island University. Executive Chairman of the Board and Chief Executive Officer. 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. Dr. Harris currently serves as Director or Trustee of several registered investment companies and other public and private organizations. 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. 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. 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. "Sir Francis eventually became a director and chairman of the East India Company, was elected to Parliament, 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 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's investors also lost out. Prior to his current role, he served as Head of Private Assets. Since 2014, Mr. Byers has been engaged periodically as an independent . Since 2014, Mr. Byers has been engaged periodically as an independent consultant to provide expert reports and opinions in financial and investment related matters. Mark is a Certified Public Accountant and is a graduate of St. Bonaventure University. He previously served on the Highwoods Board of Directors and Audit Committee from 2012 through 2014. 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. Prior to this, she served as Managing Director at M.R. Our experienced team seeks differentiated sources of return across private equity, real assets and asset-based investments. In some jurisdictions this website may contain advertising. 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. and "Blueprint Communities" is a registered service mark of the Federal Home Loan Bank of . Topics: Barings Bank, Nick Leeson, Board of directors, Derivative. He also acted as managing director for over ten years with Millennium Partners. 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. 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. 2231 Words. Barings Bank, founded in 1762, was one of the world's oldest merchant banks, renowned for having facilitated the Louisiana Purchase.The bank declared bankruptcy in 1995 after losing 827 million (approximately $1.3 billion) due to unauthorized trading activities from one of its employees, Nick Leeson. He also acted as managing director for over ten years with Millennium Partners. This mission continues to drive the firm today. Jill received a Bachelor of Science from Clemson University and a Masters in Organization Behavior and Development from Fielding University. from the University of Washington, and an M.B.A. from Wake Forest University. Dr. Harris brings substantial executive, board and operations experience to Barings. Prior to joining Barings in 2013, Mr. Lloyd 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 . View Management Team View Board of Directors. In some jurisdictions this website may contain advertising. We build high-conviction portfolios based on fundamental, bottom-up research and ESG integration, seeking to identify companies with strong growth potential. 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. 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. 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. Barings' team-based culture seeks to deliver long-term financial security and builds a sustainable future in service to our clients, colleagues and communities. The Nomination and Corporate Governance Committee identifies and recommends to the Board of . Open Document. If you have questions or would like more information about our offerings, please get in touch with us. It was bailed out by the Bank of England. 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. leadership details. Barings employees rate the overall compensation and benefits package 3.7/5 stars. 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 subadvises a series of mutual funds for MassMutual Funds. The collapse of Barings Bank in February 1995 was caused by colossal losses incurred by a single rogue trader. 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. Read our latest news, meet our experts and explore our content. As a global and publicly traded financial institution, Scotiabank recognizes the need to adhere to best practices in Canadian and international corporate governance. . 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. Mr. Byers received his M.B.A. in Finance from Roth Graduate School of Business, Long Island University and his B.A. All rights are reserved. Prior to joining Highwoods, Mark served as Executive Vice President and Chief Financial Officer of Exco Resources, Inc. Before that, he served as Senior Vice President and Chief Financial Officer of Progress Energy, Inc. from 2008 until its merger with Duke Energy Corporation in 2012. 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. She is on several non-profit boards and active in the community with a focus on education, the arts, and homeless prevention. By selecting Continue, you will leave U.S. Bank and enter a third-party Web site. 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. Prior to these positions, he served as a Clinical Scientist, Flight Surgeon and Astronaut for NASA. Throughout history, Barings has been a leader in providing global, innovative, diversified solutions to clients. Additionally, Ms. Lancaster-Beal served on the Board of Regents of Georgetown University from 2006 to 2010. 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. 4. If you have questions or would like more information about our offerings, please get in touch with us. John currently serves on the boards of The Mint Museum and the National Association of Corporate Directors, Carolinas Chapter. A lack of active involvement by the Board and management of Barings, allowed Nick Leeson to chalk up astronomical losses from his trading activities that brought the 200-year old financial institution to its knees . 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. 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 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. 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. Jill received a Bachelor of Science from Clemson University and a Masters in Organization Behavior and Development from Fielding University. Location not listed? As Britain prospered, so did the bank and Sir Francis Baring. Location not listed? 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. Prior to joining Highwoods, Mark served as Executive Vice President and Chief Financial Officer of Exco Resources, Inc. Before that, he served as Senior Vice President and Chief Financial Officer of Progress Energy, Inc. from 2008 until its merger with Duke Energy Corporation in 2012. 1. Ms. Lancaster-Beal is a financial professional with extensive management and board level experience in corporate governance, credit and financial analysis. 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. 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. 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. Citizens Bank of Kansas Board Director Mike Felts, of Winfield, has been named an Amazing Outside Director for 2023 by regional banking magazine BankBeat. Barings Insurance Solutions group develops customized solutions leveraging the firms experience and capabilities across public and private asset classes. In this interview-style podcast, we offer insight into where our global teams are seeing risks and opportunities today. Investor Contact Information. She has built a reputation as an executive with a strategic and pragmatic approach to talent management with an eye toward bottom line results. Barings subadvises a series of mutual funds for MassMutual Funds. 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. Read, watch and listen to the latest insights from our global investment teams. Learn More About FHLBank Pittsburgh Corporate Governance. From 2011 until 2019, he served as Executive Director of Catawba Lands Conservancy, a nonprofit land trust. 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. It was neither of these things. 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. David holds a B.S. Read our latest news, meet our experts and explore our content. We are deliberate in our direction, partnerships and decision making to achieve long-term, lasting change. Board of Directors - B of D: A board of directors (B of D) is a group of individuals, elected to represent stockholders . In December 2014, Mr. Byers was recognized by the National Association of Corporate Directors as a Board Leadership Fellow. Dr. Harris brings substantial executive, board and operations experience to Barings. 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. 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 left a $1.4 billion hole in Barings' balance sheet due to his unauthorized derivatives speculation, causing the 233-year-old bank's demise. Before that, he served as an officer in the United States Air Force and worked in the telecommunications industry for seven years. Read our latest news, meet our experts and explore our content. 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. In this interview-style podcast, we offer insight into where our global teams are seeing risks and opportunities today. All rights are reserved. Board of Directors Definition. 4 Was the Barings board of directors culpable for the losses of Nick Leeson What from FIN 690G at Wichita State University 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. U.S. Bank is not responsible for the content of, or products and services provided by Intuit . 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. In 1995, Barings - then the oldest bank in Britain . Ironsides and related entities serve as the manager and general partner to various funds and managed accounts for institutional clients. 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. Our funds offer access to specialized strategies across global fixed income. Our experienced team seeks differentiated sources of return across private equity, real assets and asset-based investments. In December 2014, Mr. Byers was recognized by the National Association of Corporate Directors as a Board Leadership Fellow. This case study consists of the "Report of the Board of Banking Supervision Inquiry into the Circumstances of the Collapse of Barings, 18 July 1995." Events. 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. Prior to these positions, he served as a Clinical Scientist, Flight Surgeon and Astronaut for NASA. 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. Additionally, the strategies and funds may not be available to all investor types in all jurisdictions. Location not listed? 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. It deals with the guidelines governing OP Financial Group's internal control, ensures that . [1] The chain of events that led to the collapse of the bank could have been mitigated if not entirely avoided had management and/or the board of directors followed recommendations contained . With investment professionals based in North America, Europe and . 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. 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. See Page 1. As for Barings, it become part of ING, the Dutch bank paying 1.00 for it in 1995. Prior to joining Highwoods, Mark served as Executive Vice President and Chief Financial Officer of Exco Resources, Inc. Before that, he served as Senior Vice President and Chief Financial Officer of Progress Energy, Inc. from 2008 until its merger with Duke Energy Corporation in 2012. Eric is an Executive Sponsor of both the Veterans and the Out & Allies Employee Resource Groups. The Barings Investment Institute explores the forces that shape long-term investment and capital decisions. 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 . "There was a stack of paper, "recalls visiting official Tony Railton, senior clerk for . Setting general company goals. 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. View detailed BBDC description & address. The Committee is composed of five directors: Jean-Bernard Lvy, Jrme Contamine, France Houssaye, Grard Mestrallet and Juan-Maria Nin Genova. 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. . 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. Our funds offer access to specialized strategies across global fixed income. He also acted as managing director for over ten years with Millennium Partners. 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. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. in Economics from Georgetown University and an M.B.A. from the Wharton School of Business of the University of Pennsylvania. Previously, Mr. Carter was an investment banking analyst in the Healthcare Group at Chemical Bank and a research assistant in the mergers and acquisitions group of Morgan . Our global presence and longstanding expertise allows us to evaluate and capture the yield potential of illiquid and less liquid credit-based investments. Maintaining company resources. 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.