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. In the end, his losses accounted for 827 million (or $1.4 billion), twice Barings's available trading capital. She has built a reputation as an executive with a strategic and pragmatic approach to talent management with an eye toward bottom line results. 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. Copyright 2023 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. in Economics from Long Island University. He also acted as managing director for over ten years with Millennium Partners. Jonathan ("Jon") Bock has been promoted to CEO of Barings BDC, where he has served as CFO since 2018. Regardless of the terminology, the board of directors is a group of individuals either elected or appointed to provide organizational leadership and . 9 Pages. In this interview-style podcast, we offer insight into where our global teams are seeing risks and opportunities today. We are deliberate in our direction, partnerships and decision making to achieve long-term, lasting change. four of its members are independent directors. This was the genuine . 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. 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. The Bank . 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. Since 2014, Mr. Byers has been engaged periodically as an independent consultant to provide expert reports and opinions in financial and investment related matters. We build high-conviction portfolios based on fundamental, bottom-up research and ESG integration, seeking to identify companies with strong growth potential. Barings Bank was Britains oldest merchant bank until it went into receivership on 27th February 1995. It was neither of these things. Eric is Executive Chairman of the Board and Chief Executive Officer of Barings BDC, Inc. leadership details. 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. Lloyd has served as chairman since 2021 and CEO and director since 2018. 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. 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. P. 223-224 Yes. The link below will redirect you to their website for more information. 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. 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 . 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. 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 Economics from Georgetown University and an M.B.A. from the Wharton School of Business of the University of Pennsylvania. 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. Barings' team-based culture seeks to deliver long-term financial security and builds a sustainable future in service to our clients, colleagues and communities. In December 2014, Mr. Byers was recognized by the National Association of Corporate Directors as a Board Leadership Fellow. We are committed to sustainable practices and responsible investment. Supporting executives and their teams. 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. Mark joined Highwoods in September 2014. The board of directors not only helps lay out the bank's goals, but acts as a watchdog as well. A career at Barings means joining a world-class firm with a collegial culture and rich history in asset management. In May of this year, Pearl Meyer published the 2021 Banking Board of Directors Compensation and Governance Practices Survey . "There was a stack of paper, "recalls visiting official Tony Railton, senior clerk for futures and Additionally, Robert serves as a member of the Board of Managers of Veracity Worldwide LLC. The Barings Investment Institute explores the forces that shape long-term investment and capital decisions. 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. 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. . Our funds offer access to specialized strategies across global fixed income. Visit our Global Site. 1. Barings' team-based culture seeks to deliver long-term financial security and builds a sustainable future in service to our clients, colleagues and communities. 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 is a Certified Public Accountant and is a graduate of St. Bonaventure University. 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. 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. Copyright 2023 Barings. 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. 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. By proceeding to our site you agree to our Cookies Notice and our site Terms and Conditions. This document contains the following information: Report of the Board of Banking Supervision inquiry into the circumstances of the collapse of Barings. Breakdown of Risk Controls at Barings Bank. Prior to this, she served as Managing Director at M.R. 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. As Britain prospered, so did the bank and Sir Francis Baring. 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. in Economics from Georgetown University and an M.B.A. from the Wharton School of Business of the University of Pennsylvania. 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. The firm's star trader was illicitly pursuing a strategy akin to CREATIVE. 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. in Economics from Georgetown University and an M.B.A. from the Wharton School of Business of the University of Pennsylvania. 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. The collapse of Baring's Bank in 1995 occurred principally as a result of huge losses that resulted from unauthorized derivatives trading . Learn More about Barings Insurance Solutions. All rights are reserved. 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. This followed the discovery of massive trading losses incurred by Barings Futures Singapore (BFS), an . 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. 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. 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. The average Barings hourly pay ranges from approximately $30 per hour for an Intern to $65 per hour for a Summer Analyst. Board of Directors. Barings Bank, previously known as Baring Brothers & Co. 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. She is on several non-profit boards and active in the community with a focus on education, the arts, and homeless prevention. Prior to his current role, he served as Head of Barings U.S. High Yield Credit Research Group. 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. 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. 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. 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. Our broad capabilities allow us to go beyond traditional fixed income strategies and access investments spanning the quality, yield and liquidity spectrum. 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. 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. Prior to these positions, he served as a Clinical Scientist, Flight Surgeon and Astronaut for NASA. He was a director of Dunlop Holdings from 1981 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. 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. Previously, Richard held various roles in Barings Bank, which he joined in 1976, latterly as Head of Barings . 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. 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. Nick Leeson was directly responsible for causing the collapse of Britain's Barings Bank by hiding 827 million ($1.4 billion) in losses in 1995. Loading . The staff at Baring Futures Singapore pried open a drawer always kept locked by Nicholas Leeson in February. Prior to these positions, he served as a Clinical Scientist, Flight Surgeon and Astronaut for NASA. He previously served on the Highwoods Board of Directors and Audit Committee from 2012 through 2014. Read our latest news, meet our experts and explore our content. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. Our global presence and longstanding expertise allows us to evaluate and capture the yield potential of illiquid and less liquid credit-based investments. See Page 1. By selecting Continue, you will leave U.S. Bank and enter a third-party Web site. A Board's mandate is to establish policies for corporate management and . Read, watch and listen to the latest insights from our global investment teams. 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. 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. 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 . 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. 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. 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 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. 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. In December 2014, Mr. Byers was recognized by the National Association of Corporate Directors as a Board Leadership Fellow. All rights are reserved. In this interview-style podcast, we offer insight into where our global teams are seeing risks and opportunities today. This material should not be construed as a recommendation, and Barings is not soliciting any action based upon such information. The staff at Baring Futures Singapore pried open a drawer always kept locked by Nicholas Leeson in February. Our funds offer access to specialized strategies across global fixed income. Leeson was arrested in Germany and, after a failed bailout attempt, Barings went . 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. Robert Knapp brings over 25 years of experience in the financial services industry to the Board. Through its insightful recommendations, the Board helps us constantly refine and improve our curriculum and programming. Visit our Global Site. Executive Chairman of the Board and Chief Executive Officer. 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. Barings Insurance Solutions group develops customized solutions leveraging the firms experience and capabilities across public and private asset classes. 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. 2231 Words. She is on several non-profit boards and active in the community with a focus on education, the arts, and homeless prevention. 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. Barings Bank. Find Barings Bank stock photos and editorial news pictures from Getty Images. This is an incomplete list of Bank of England directors from the bank's foundation in 1694: . He holds a B.S. The wave of bank and savings and loan failures in the 1980s and early 1990s, and the resulting losses to deposit insurance funds, served to highlight the need for banks to hold sufficient capital . 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. 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. Throughout history, Barings has been a leader in providing global, innovative, diversified solutions to clients. David holds a B.S. 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. 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. As a global and publicly traded financial institution, Scotiabank recognizes the need to adhere to best practices in Canadian and international corporate governance. He holds a B.S. 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. This material should not be construed as a recommendation, and Barings is not soliciting any action based upon such information. 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. Read, watch and listen to the latest insights from our global investment teams. Read, watch and listen to the latest insights from our global investment teams. 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. This material should not be construed as a recommendation, and Barings is not soliciting any action based upon such information. Nick Leeson, the bank's then 28-year-old head of derivatives in . The Board of Directors was composed of a number of people who have displayed poor moral character and are willing to conduct fraudulent activity. The Chairman of the Committee is Mr Jean-Bernard Lvy. She has built a reputation as an executive with a strategic and pragmatic approach to talent management with an eye toward bottom line results. 4. View Management Team View Board of Directors. 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. In this interview-style podcast, we offer insight into where our global teams are seeing risks and opportunities today. 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. Barings Insurance Solutions group develops customized solutions leveraging the firms experience and capabilities across public and private asset classes. Hiring and firing of senior executives (especially the CEO) Establishing compensation for executives. Barings's investors also lost out. 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. In some jurisdictions this website may contain advertising. Visit our Global Site. It was bailed out by the Bank of England. 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. The average Barings salary ranges from approximately $100,889 per year for an Analyst to $604,854 per year for a Managing Director. He also spent eight years at Price Waterhouse. Our global presence and longstanding expertise allows us to evaluate and capture the yield potential of illiquid and less liquid credit-based investments. . Mark Mulhern. He currently serves on the board of McKim and Creed, a North Carolina based professional engineering services firm. 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. and "Blueprint Communities" is a registered service mark of the Federal Home Loan Bank of . 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 . 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.
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