Ironsides and related entities serve as the manager and general partner to various funds and managed accounts for institutional clients. Prior to this, she served as Managing Director at M.R. 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. By the later decades of the 20th century, its culture . Prior to PaineWebber, Mr. Byers was an executive at Citibank/Citicorp from 1979 to 1986. four of its members are independent directors. 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. Chief Human Resources & Communications Officer, Head of Europe & Asia Pacific Real Estate, Learn More about Barings Insurance Solutions. He also acted as managing director for over ten years with Millennium Partners. *As of June 30, 2022. 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. 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. Create new Board. 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. Since 2014, Mr. Byers has been engaged periodically as an independent consultant to provide expert reports and opinions in financial and investment related matters. Barings Bank was Britains oldest merchant bank until it went into receivership on 27th February 1995. Barings employees rate the overall compensation and benefits package 3.7/5 stars. She has built a reputation as an executive with a strategic and pragmatic approach to talent management with an eye toward bottom line results. Dr. Harris currently serves as Director or Trustee of several registered investment companies and other public and private organizations. 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. 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. In addition, he is on the Boards the National Academy of Science, Engineering and Medicine - Board on Health Policy, the Texas Medical Center, National Math and Science Initiative, and the Harris Institute & Foundation. Barings subadvises a series of mutual funds for MassMutual Funds. *As of June 30, 2022. Throughout history, Barings has been a leader in providing global, innovative, diversified solutions to clients. John Houblon (1694-1699, 1700-1712) (First Governor 1694-1697) 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. He previously served on the Highwoods Board of Directors and Audit Committee from 2012 through 2014. Copyright 2023 Barings. Ironsides and related entities serve as the manager and general partner to various funds and managed accounts for institutional clients. Governance Statement. Prior to PaineWebber, Mr. Byers was an executive at Citibank/Citicorp from 1979 to 1986. FHLBank Pittsburgh's Executive Management and Board of Directors are highly tenured in the financial services industry. 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. 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. 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 . It deals with the guidelines governing OP Financial Group's internal control, ensures that . Additionally, Ms. Lancaster-Beal served on the Board of Regents of Georgetown University from 2006 to 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. 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. Eric is an Executive Sponsor of both the Veterans and the Out & Allies Employee Resource Groups. 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. 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. Read our latest news, meet our experts and explore our content. 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. David has worked in the financial services industry since 2004. In December 2014, Mr. Byers was recognized by the National Association of Corporate Directors as a Board Leadership Fellow. 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. 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. . Learn More About FHLBank Pittsburgh Corporate Governance. All rights are reserved. Company. 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. David holds a B.S. On 26 February 1995, administrators were appointed to manage the affairs of the Barings Group parent company and a number of other companies within the Barings Group. The link below will redirect you to their website for more information. Copyright 2023 Barings. 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. Ms. Lancaster-Beal holds a B.A. Read, watch and listen to the latest insights from our global investment teams. Prior to his current role, he served as Head of Private Assets. He previously served on the Highwoods Board of Directors and Audit Committee from 2012 through 2014. U.S. Bank is not responsible for the content of, or products and services provided by Intuit . Our global presence and longstanding expertise allows us to evaluate and capture the yield potential of illiquid and less liquid credit-based investments. Citizens Bank of Kansas Board Director Mike Felts, of Winfield, has been named an Amazing Outside Director for 2023 by regional banking magazine BankBeat. 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. Additionally, the strategies and funds may not be available to all investor types in all jurisdictions. 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. 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. Barings' team-based culture seeks to deliver long-term financial security and builds a sustainable future in service to our clients, colleagues and communities. 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 board is also tasked with a number of other responsibilities, including the following: Creating dividend policies. Our experienced team seeks differentiated sources of return across private equity, real assets and asset-based investments. At Barings, we strive to act responsibly today in order to help deliver a more sustainable tomorrow. Ironsides and related entities serve as the manager and general partner to various funds and managed accounts for institutional clients. 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. 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. Leeson was arrested in Germany and, after a failed bailout attempt, Barings went . 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. 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. Open Document. In some jurisdictions this website may contain advertising. You can communicate with our Board of Directors by sending a letter addressed to the Board of Directors, non-management directors or specified individual directors to: . Regardless of the terminology, the board of directors is a group of individuals either elected or appointed to provide organizational leadership and . An investigation was launched by the Board of Banking Supervision of the Bank of England on the same day. A career at Barings means joining a world-class firm with a collegial culture and rich history in asset management. Barings is a $349+ billion* global investment manager sourcing differentiated opportunities across public and private fixed income, real estate, and specialist equity markets. Robert Knapp brings over 25 years of experience in the financial services industry to the Board. The link below will redirect you to their website for more information. "Sir Francis eventually became a director and chairman of the East India Company, was elected to Parliament, 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. 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. 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. From 2011 until 2019, he served as Executive Director of Catawba Lands Conservancy, a nonprofit land trust. Managing Risk. Location not listed? 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. The average Barings hourly pay ranges from approximately $30 per hour for an Intern to $65 per hour for a Summer Analyst. Prior to his current role, he served as Head of Barings U.S. High Yield Credit Research Group. in Economics from Georgetown University and an M.B.A. from the Wharton School of Business of the University of Pennsylvania. Its missions are to approve strategic guidelines, monitor and ensure their implementation in line with Societe Generale's values, and comply with the highest international standards of governance, ethics and risk management. Baring Bank was founded in 1762 by Francis Baring, a . They were sons of John (n Johann) Baring, wool trader of Exeter, born in Bremen, Germany.The company started business in offices off Cheapside in London, and within a few years moved to larger quarters in Mincing Lane. Michael is the CEO and chairman of CAS. In this interview-style podcast, we offer insight into where our global teams are seeing risks and opportunities today. Setting general company goals. The link below will redirect you to their website for more information. Throughout history, Barings has been a leader in providing global, innovative, diversified solutions to clients. 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. The staff at Baring Futures Singapore pried open a drawer always kept locked by Nicholas Leeson in February. 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. 2231 Words. Our broad capabilities allow us to go beyond traditional fixed income strategies and access investments spanning the quality, yield and liquidity spectrum. In the end, his losses accounted for 827 million (or $1.4 billion), twice Barings's available trading capital. 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 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 is an incomplete list of Bank of England directors from the bank's foundation in 1694: . John currently serves on the boards of The Mint Museum and the National Association of Corporate Directors, Carolinas Chapter. Throughout history, Barings has been a leader in providing global, innovative, diversified solutions to clients. We are committed to sustainable practices and responsible investment. Jill received a Bachelor of Science from Clemson University and a Masters in Organization Behavior and Development from Fielding University. The phrase "board of directors" often is used interchangeably with terms such as " board of trustees ," "board of governors," or simply "the board.". 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. { board.total_asset_count }} View all Boards View all Sets CREATE BOARD. 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. Eric is Executive Chairman of the Board and Chief Executive Officer of Barings BDC, Inc. 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. Key Points. Visit our Global Site. This document contains the following information: Report of the Board of Banking Supervision inquiry into the circumstances of the collapse of Barings. Hiring and firing of senior executives (especially the CEO) Establishing compensation for executives. Learn More about Barings Insurance Solutions. Robert Knapp brings over 25 years of experience in the financial services industry to the Board. Dr. Harris currently serves as Director or Trustee of several registered investment companies and other public and private organizations. The staff at Baring Futures Singapore pried open a drawer always kept locked by Nicholas Leeson in February. The average Barings salary ranges from approximately $100,889 per year for an Analyst to $604,854 per year for a Managing Director. John currently serves on the boards of The Mint Museum and the National Association of Corporate Directors, Carolinas Chapter. Historical context-"Corporate Portrait: The Economic Might of Barings 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. 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. 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. The firm's star trader was illicitly pursuing a strategy akin to 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. . 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 Barings Investment Institute explores the forces that shape long-term investment and capital decisions. from the United States Air Force Academy, an M.S. 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. The company's board of director consists of 9 directors; 6 independent directors and 3 executive directors. 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. 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 . 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