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We are committed to sustainable practices and responsible investment. 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. In this interview-style podcast, we offer insight into where our global teams are seeing risks and opportunities today. Board of Directors Definition. Prior to this, she served as Managing Director at M.R. She is on several non-profit boards and active in the community with a focus on education, the arts, and homeless prevention. The collapse of Baring's Bank in 1995 occurred principally as a result of huge losses that resulted from unauthorized derivatives trading . Our global presence and longstanding expertise allows us to evaluate and capture the yield potential of illiquid and less liquid credit-based investments. 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. 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. 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. Since 2014, Mr. Byers has been engaged periodically as an independent consultant to provide expert reports and opinions in financial and investment related matters. In some jurisdictions this website may contain advertising. 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. Dr. Harris brings substantial executive, board and operations experience to Barings. Throughout history, Barings has been a leader in providing global, innovative, diversified solutions to clients. Mike is also Chair of the Barings Board of Directors and a member of the MassMutual Executive Leadership Team. 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. 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. He was a director of Pye Holdings from 1967 to 1979. 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. With investment professionals based in North America, Europe and Asia Pacific, the firm, a subsidiary of MassMutual, aims to serve its . By proceeding to our site you agree to our Cookies Notice and our site Terms and Conditions. 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 . Ms. Lancaster-Beal is a financial professional with extensive management and board level experience in corporate governance, credit and financial analysis. in Economics from Georgetown University and an M.B.A. from the Wharton School of Business of the University of Pennsylvania. 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. 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. 17. Beal & Company, which she co-founded in April 1988, until 2014. Implications of the Barings Collapse for Bank Supervisors. He also spent eight years at Price Waterhouse. In December 2014, Mr. Byers was recognized by the National Association of Corporate Directors as a Board Leadership Fellow. 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. Mark joined Highwoods in September 2014. 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. From 2011 until 2019, he served as Executive Director of Catawba Lands Conservancy, a nonprofit land trust. 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. 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. From 2011 until 2019, he served as Executive Director of Catawba Lands Conservancy, a nonprofit land trust. He holds a B.S. This material should not be construed as a recommendation, and Barings is not soliciting any action based upon such information. Company. All rights are reserved. This followed the discovery of massive trading losses incurred by Barings Futures Singapore (BFS), an . We are deliberate in our direction, partnerships and decision making to achieve long-term, lasting change. 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. 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 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. 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 Copyright 2023 Barings. Evaluating Boards and Directors. 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). 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. This mission continues to drive the firm today. 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. in Economics from Long Island University. 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. During 2019, CAS's profit had fallen 30% and its share price declined. The collapse of Baring Bank. 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 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. Beal & Company, which she co-founded in April 1988, until 2014. Ms. Lancaster-Beal holds a B.A. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. 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 these positions, he served as a Clinical Scientist, Flight Surgeon and Astronaut for NASA. In December 2014, Mr. Byers was recognized by the National Association of Corporate Directors as a Board Leadership Fellow. He was a director of Dunlop Holdings from 1981 to 1984. leadership details. 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 . Location not listed? 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 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. John Houblon (1694-1699, 1700-1712) (First Governor 1694-1697) in Finance from the University of Virginia, McIntire School of Commerce. 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. Visit our Global Site. We build high-conviction portfolios based on fundamental, bottom-up research and ESG integration, seeking to identify companies with strong growth potential. It deals with the guidelines governing OP Financial Group's internal control, ensures that . 2022 Barings PARTICIPATION INVESTORS 2022 Annual Report BARINGS. All rights are reserved. 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. Since 2014, Mr. Byers has been engaged periodically as an independent . 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. Eric is an Executive Sponsor of both the Veterans and the Out & Allies Employee Resource Groups. 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. Open Document. 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. Prior to this, she served as Managing Director at M.R. 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. Historical context-"Corporate Portrait: The Economic Might of Barings Bank" Additionally, Ms. Lancaster-Beal served on the Board of Regents of Georgetown University from 2006 to 2010. 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. Managing Risk. Before that, he served as an officer in the United States Air Force and worked in the telecommunications industry for seven years. 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. In the end, his losses accounted for 827 million (or $1.4 billion), twice Barings's available trading capital. Barings BDC, Inc. 300 South Tryon Street 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. Visit our Global Site. If you have questions or would like more information about our offerings, please get in touch with us. Many of Leeson's former colleagues lost their jobs. Additionally, Robert serves as a member of the Board of Managers of Veracity Worldwide LLC. 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. Ironsides and related entities serve as the manager and general partner to various funds and managed accounts for institutional clients. in Finance from the University of Virginia, McIntire School of Commerce. In this interview-style podcast, we offer insight into where our global teams are seeing risks and opportunities today. Select from premium Barings Bank of the highest quality. Ms. Lancaster-Beal holds a B.A. 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 . Apart from serving as a Non-Executive Director of BNF Bank p.l.c., Mr Borg also chairs the Bank's Credit Approval Committee. 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 . Barings Insurance Solutions group develops customized solutions leveraging the firms experience and capabilities across public and private asset classes. 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 . View Management Team View Board of Directors. 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. Position. We build high-conviction portfolios based on fundamental, bottom-up research and ESG integration, seeking to identify companies with strong growth potential. She has built a reputation as an executive with a strategic and pragmatic approach to talent management with an eye toward bottom line results. 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. from the University of Washington, and an M.B.A. from Wake Forest University. 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. 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. Maintaining company resources. { board.total_asset_count }} View all Boards View all Sets CREATE BOARD. 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. Executive Chairman of the Board and Chief Executive Officer. *As of December 31, 2022. Mark Mulhern. in Economics from Long Island University. A career at Barings means joining a world-class firm with a collegial culture and rich history in asset management. 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. 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. 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. If you have questions or would like more information about our offerings, please get in touch with us. Our funds offer access to specialized strategies across global fixed income. 1. Dr. Harris currently serves as Director or Trustee of several registered investment companies and other public and private organizations.

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