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. Jill received a Bachelor of Science from Clemson University and a Masters in Organization Behavior and Development from Fielding University. She has built a reputation as an executive with a strategic and pragmatic approach to talent management with an eye toward bottom line results. 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. and "Blueprint Communities" is a registered service mark of the Federal Home Loan Bank of . See Page 1. He also acted as managing director for over ten years with Millennium Partners. In some jurisdictions this website may contain advertising. Before that, he served as an officer in the United States Air Force and worked in the telecommunications industry for seven years. 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. He also acted as managing director for over ten years with Millennium Partners. 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. shareholders not already directors of the bank at the time. Was the Barings Bank Board of Directors culpable for the losses of Nick Leeson? 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. Our broad capabilities allow us to go beyond traditional fixed income strategies and access investments spanning the quality, yield and liquidity spectrum. We build high-conviction portfolios based on fundamental, bottom-up research and ESG integration, seeking to identify companies with strong growth potential. 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. 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. 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.. 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. Key Points. We are committed to sustainable practices and responsible investment. Learn More about Barings Insurance Solutions. FHLBank Pittsburgh's Executive Management and Board of Directors are highly tenured in the financial services industry. 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. Baring Bank was founded in 1762 by Francis Baring, a . Barings's investors also lost out. in 2019) resulting from fraudulent investments, primarily in futures contracts. Prior to PaineWebber, Mr. Byers was an executive at Citibank/Citicorp from 1979 to 1986. Since 2014, Mr. Byers has been engaged periodically as an independent consultant to provide expert reports and opinions in financial and investment related matters. From 2011 until 2019, he served as Executive Director of Catawba Lands Conservancy, a nonprofit land trust. 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. In 1995, Barings - then the oldest bank in Britain . 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. Company profile for Barings BDC Inc. including key executives, insider trading, ownership, revenue and average growth rates. Prior to his current role, he served as Head of Private Assets. In the end, his losses accounted for 827 million (or $1.4 billion), twice Barings's available trading capital. Prior to this, she served as Managing Director at M.R. The board of directors not only helps lay out the bank's goals, but acts as a watchdog as well. 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. Chief Human Resources & Communications Officer, Head of Europe & Asia Pacific Real Estate, Learn More about Barings Insurance Solutions. Our funds offer access to specialized strategies across global fixed income. Position. A career at Barings means joining a world-class firm with a collegial culture and rich history in asset management. 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 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. Barings had been founded in 1762 by Francis Baring and overseen by generations of his wealthy, privileged descendants. 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. 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. Our funds offer access to specialized strategies across global fixed income. Michael is the CEO and chairman of CAS. He holds a B.S. In some jurisdictions this website may contain advertising. Hiring and firing of senior executives (especially the CEO) Establishing compensation for executives. P. 223-224 Yes. Mark is a Certified Public Accountant and is a graduate of St. Bonaventure University. 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 some jurisdictions this website may contain advertising. Location not listed? The bank collapsed in 1995 after suffering losses of 827 million (1.7 billion in 2021 . This material should not be construed as a recommendation, and Barings is not soliciting any action based upon such information. 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. This document contains the following information: Report of the Board of Banking Supervision inquiry into the circumstances of the collapse of Barings. 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 . As for Barings, it become part of ING, the Dutch bank paying 1.00 for it in 1995. 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. He currently serves on the board of McKim and Creed, a North Carolina based professional engineering services firm. 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. A career at Barings means joining a world-class firm with a collegial culture and rich history in asset management. Copyright 2023 Barings. The Barings Investment Institute explores the forces that shape long-term investment and capital decisions. 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. Robert Knapp brings over 25 years of experience in the financial services industry to the Board. Our funds offer access to specialized strategies across global fixed income. in Economics from Georgetown University and an M.B.A. from the Wharton School of Business of the University of Pennsylvania. Androscoggin Bank Headquartered in Lewiston, Maine, the Bank has been fiercely independent for 150 years. 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 holds a B.A. Eric also works closely with all the investment teams at Barings LLC. All rights are reserved. In this interview-style podcast, we offer insight into where our global teams are seeing risks and opportunities today. The Barings Investment Institute explores the forces that shape long-term investment and capital decisions. Additionally, the strategies and funds may not be available to all investor types in all jurisdictions. 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 subadvises a series of mutual funds for MassMutual Funds. 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. 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. The collapse of Baring's Bank in 1995 occurred principally as a result of huge losses that resulted from unauthorized derivatives trading . He was a director of Pye Holdings from 1967 to 1979. 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. 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. We are deliberate in our direction, partnerships and decision making to achieve long-term, lasting change. 2022 Barings PARTICIPATION INVESTORS 2022 Annual Report BARINGS. 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. With investment professionals based in North America, Europe and . 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. Prior to this, she served as Managing Director at M.R. Mike is also Chair of the Barings Board of Directors and a member of the MassMutual Executive Leadership Team. 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. 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 . Prior to these positions, he served as a Clinical Scientist, Flight Surgeon and Astronaut for NASA. 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. We build high-conviction portfolios based on fundamental, bottom-up research and ESG integration, seeking to identify companies with strong growth potential. During 2019, CAS's profit had fallen 30% and its share price declined. Prior to his current role, he served as Head of Private Assets. By managing risk judiciously, the board tries to maintain a balance between enterprise . from the University of Washington, and an M.B.A. from Wake Forest University. 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. With the wise guidance of today's business leaders, the Belk College remains at . He previously served on the Highwoods Board of Directors and Audit Committee from 2012 through 2014. As Britain prospered, so did the bank and Sir Francis Baring. 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. 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. The challenge for boards is to prevent crises in the organisations they govern. { board.total_asset_count }} View all Boards View all Sets CREATE BOARD. bankruptcy of Barings Bank, collapse of Barings Bank, Britain's oldest merchant bank, on February 27, 1995, when a single employee committed the bank to losses of roughly 830 million, from which it could not recover. Nick Leeson, the bank's then 28-year-old head of derivatives in . He previously served on the Highwoods Board of Directors and Audit Committee from 2012 through 2014. 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. This followed the discovery of massive trading losses incurred by Barings Futures Singapore (BFS), an . 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. Dr. Harris currently serves as Director or Trustee of several registered investment companies and other public and private organizations. Our global presence and longstanding expertise allows us to evaluate and capture the yield potential of illiquid and less liquid credit-based investments. 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 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. From 2011 until 2019, he served as Executive Director of Catawba Lands Conservancy, a nonprofit land trust. 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. 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. Read, watch and listen to the latest insights from our global investment teams. | March 1, 2023 . 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. She is on several non-profit boards and active in the community with a focus on education, the arts, and homeless prevention. CREATIVE. 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 . in Economics from Georgetown University and an M.B.A. from the Wharton School of Business of the University of Pennsylvania. We build high-conviction portfolios based on fundamental, bottom-up research and ESG integration, seeking to identify companies with strong growth potential. The collapse of Barings Bank in February 1995 was caused by colossal losses incurred by a single rogue trader. 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. Additionally, Robert serves as a member of the Board of Managers of Veracity Worldwide LLC. 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. Mark joined Highwoods in September 2014. A career at Barings means joining a world-class firm with a collegial culture and rich history in asset management. in Economics from Georgetown University and an M.B.A. from the Wharton School of Business of the University of Pennsylvania. Our paper provides a practical introduction to board and director evaluations. 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. Explore our latest press releases and contact our media relations team. 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. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. We use cookies on our website to provide you with the best experience. 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. Throughout history, Barings has been a leader in providing global, innovative, diversified solutions to clients. 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. . By proceeding to our site you agree to our Cookies Notice and our site Terms and Conditions. 4. By selecting Continue, you will leave U.S. Bank and enter a third-party Web site. He also spent eight years at Price Waterhouse. 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. In December 2014, Mr. Byers was recognized by the National Association of Corporate Directors as a Board Leadership Fellow. 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. Create new Board. In May of this year, Pearl Meyer published the 2021 Banking Board of Directors Compensation and Governance Practices Survey . 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. The link below will redirect you to their website for more information. 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. Creating options policies. Additionally, Ms. Lancaster-Beal served on the Board of Regents of Georgetown University from 2006 to 2010. Additionally, the strategies and funds may not be available to all investor types in all jurisdictions. 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, watch and listen to the latest insights from our global investment teams. All rights are reserved. 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. 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. Compensation & Benefits. Historical context-"Corporate Portrait: The Economic Might of Barings Bank" 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. Ben Dubow This year marks 25 years since the failure of Barings Bank. Mark joined Highwoods in September 2014. The phrase "board of directors" often is used interchangeably with terms such as " board of trustees ," "board of governors," or simply "the board.". View detailed BBDC description & address. 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. 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. 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. 01.03.2023 - Nasdaq CopenhagenLondon Stock Exchange Euronext DublinOther stakeholders Date: 1 March 2023 The bank's board of directors Following close of the bank's annual general meeting . 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. Dr. Harris brings substantial executive, board and operations experience to 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. Since 2014, Mr. Byers has been engaged periodically as an independent consultant to provide expert reports and opinions in financial and investment related matters. 3. 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. Barings Bank. He holds a B.S. "There was a stack of paper, "recalls visiting official Tony Railton, senior clerk for futures and OP Corporate Bank complies with the principles of internal control adopted by the central cooperative's Supervisory Board. 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. Mark joined Highwoods in September 2014.