barings bank board of directors

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. Visit our Global Site. 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. A career at Barings means joining a world-class firm with a collegial culture and rich history in asset management. He holds a B.S. 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 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. Dr. Harris currently serves as Director or Trustee of several registered investment companies and other public and private organizations. Before that, he served as an officer in the United States Air Force and worked in the telecommunications industry for seven years. In December 2014, Mr. Byers was recognized by the National Association of Corporate Directors as a Board Leadership Fellow. This mission continues to drive the firm today. The bank collapsed in 1995 after suffering losses of 827 million (1.7 billion in 2021 . 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. The collapse of Baring's Bank in 1995 occurred principally as a result of huge losses that resulted from unauthorized derivatives trading . [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 . 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. Read, watch and listen to the latest insights from our global investment teams. 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 December 2014, Mr. Byers was recognized by the National Association of Corporate Directors as a Board Leadership Fellow. 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. In the end, his losses accounted for 827 million (or $1.4 billion), twice Barings's available trading capital. Regardless of the terminology, the board of directors is a group of individuals either elected or appointed to provide organizational leadership and . Our funds offer access to specialized strategies across global fixed income. 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. Leeson was arrested in Germany and, after a failed bailout attempt, Barings went . 4 Was the Barings board of directors culpable for the losses of Nick Leeson What from FIN 690G at Wichita State University 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. 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. 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. Position. Apart from serving as a Non-Executive Director of BNF Bank p.l.c., Mr Borg also chairs the Bank's Credit Approval Committee. Our broad capabilities allow us to go beyond traditional fixed income strategies and access investments spanning the quality, yield and liquidity spectrum. 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. Dr. Harris brings substantial executive, board and operations experience to Barings. four of its members are independent directors. 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. He holds a B.S. 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. 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. Citizens Bank of Kansas Board Director Mike Felts, of Winfield, has been named an Amazing Outside Director for 2023 by regional banking magazine BankBeat. 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 . Our funds offer access to specialized strategies across global fixed income. 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. The Board of Directors of OP Corporate Bank is responsible for organising and maintaining adequate and effective internal control. The Committee is composed of five directors: Jean-Bernard Lvy, Jrme Contamine, France Houssaye, Grard Mestrallet and Juan-Maria Nin Genova. 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. from the United States Air Force Academy, an M.S. 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. in Finance from the University of Virginia, McIntire School of Commerce. Mark joined Highwoods in September 2014. She is on several non-profit boards and active in the community with a focus on education, the arts, and homeless prevention. Among its many accomplishments over the centuries, Barings financed both the Louisiana Pur- chase in 1803 and the Napoleonic Wars. FHLBank Pittsburgh's Executive Management and Board of Directors are highly tenured in the financial services industry. 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. 4. 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 holds a B.A. This document contains the following information: Report of the Board of Banking Supervision inquiry into the circumstances of the collapse of 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. . It was neither of these things. The Board of Directors was composed of a number of people who have displayed poor moral character and are willing to conduct fraudulent activity. Barings Bank. We are deliberate in our direction, partnerships and decision making to achieve long-term, lasting change. With the wise guidance of today's business leaders, the Belk College remains at . Our broad capabilities allow us to go beyond traditional fixed income strategies and access investments spanning the quality, yield and liquidity spectrum. All rights are reserved. We are deliberate in our direction, partnerships and decision making to achieve long-term, lasting change. Additionally, Robert serves as a member of the Board of Managers of Veracity Worldwide LLC. Robert Knapp brings over 25 years of experience in the financial services industry to the Board. 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 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. If you have questions or would like more information about our offerings, please get in touch with us. from the United States Air Force Academy, an M.S. Copyright 2023 Barings. Our funds offer access to specialized strategies across global fixed income. Board of Directors - B of D: A board of directors (B of D) is a group of individuals, elected to represent stockholders . 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. Topics: Barings Bank, Nick Leeson, Board of directors, Derivative. Our global presence and longstanding expertise allows us to evaluate and capture the yield potential of illiquid and less liquid credit-based investments. 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. 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. 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 his current role, he served as Head of Private Assets. By selecting Continue, you will leave U.S. Bank and enter a third-party Web site. He was invited several times to the annual meeting of the Bilderberg Group. 2231 Words. shareholders not already directors of the bank at the time. 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 . 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. 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. Location not listed? Sound Corporate Governance Policies (365 kb)* and practices are important to add shareholder value and maintain the confidence of depositors and investors alike. In December 2014, Mr. Byers was recognized by the National Association of Corporate Directors as a Board Leadership Fellow. 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. Ironsides and related entities serve as the manager and general partner to various funds and managed accounts for institutional clients. 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. 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 also works closely with all the investment teams at Barings LLC. 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. 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. John currently serves on the boards of The Mint Museum and the National Association of Corporate Directors, Carolinas Chapter. 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. He also spent eight years at Price Waterhouse. OP Corporate Bank complies with the principles of internal control adopted by the central cooperative's Supervisory Board. Ironsides and related entities serve as the manager and general partner to various funds and managed accounts for institutional clients. A career at Barings means joining a world-class firm with a collegial culture and rich history in asset management. in Economics from Long Island University. The Chairman of the Committee is Mr Jean-Bernard Lvy. 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. This material should not be construed as a recommendation, and Barings is not soliciting any action based upon such information. This paper was laid before Parliament in . Barings Insurance Solutions group develops customized solutions leveraging the firms experience and capabilities across public and private asset classes. 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. 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. 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. Copyright 2023 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. 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 an Executive Sponsor of both the Veterans and the Out & Allies Employee Resource Groups. Prior to his current role, he served as Head of Private Assets. 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. Prior to PaineWebber, Mr. Byers was an executive at Citibank/Citicorp from 1979 to 1986. Additionally, Ms. Lancaster-Beal served on the Board of Regents of Georgetown University from 2006 to 2010. 17. in Economics from Georgetown University and an M.B.A. from the Wharton School of Business of the University of Pennsylvania. Setting general company goals. 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). 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. 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. The board is also tasked with a number of other responsibilities, including the following: Creating dividend policies. It deals with the guidelines governing OP Financial Group's internal control, ensures that . The Belk College of Business Board of Advisors is a group of accomplished business and civic leaders who work closely with the Belk College to ensure our relevance to the business community. 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. Learn More about Barings Insurance Solutions. She is on several non-profit boards and active in the community with a focus on education, the arts, and homeless prevention. Dr. Harris brings substantial executive, board and operations experience to Barings. 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. 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. John Houblon (1694-1699, 1700-1712) (First Governor 1694-1697) 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. *As of June 30, 2022. 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. He was a director of Dunlop Holdings from 1981 to 1984. At Barings, we strive to act responsibly today in order to help deliver a more sustainable tomorrow. 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 the University of Washington, and an M.B.A. from Wake Forest University. 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. He also spent eight years at Price Waterhouse. The link below will redirect you to their website for more information. 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. Copyright 2023 Barings. 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. Prior to this, she served as Managing Director at M.R. 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. Nominating and Corporate Governance Committee Charter, Barings is a $349+ billion* global investment manager sourcing differentiated opportunities across public and private fixed income, real estate, and specialist equity markets. Our global presence and longstanding expertise allows us to evaluate and capture the yield potential of illiquid and less liquid credit-based investments. From 2011 until 2019, he served as Executive Director of Catawba Lands Conservancy, a nonprofit land trust. Jonathan ("Jon") Bock has been promoted to CEO of Barings BDC, where he has served as CFO since 2018. So, Barings Bank was declared insolvent on February 26, 1995, and was bought by Dutch bank ING for the symbolic sum of 1 pound. Board of Directors. 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. 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. Additionally, Ms. Lancaster-Beal served on the Board of Regents of Georgetown University from 2006 to 2010. Lloyd has served as chairman since 2021 and CEO and director since 2018. The average Barings salary ranges from approximately $100,889 per year for an Analyst to $604,854 per year for a Managing Director. Managing Risk. 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. Learn More about Barings Insurance Solutions. Evaluating Boards and Directors. Learn More about Barings Insurance Solutions. Prior to this, she served as Managing Director at M.R. 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 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. A career at Barings means joining a world-class firm with a collegial culture and rich history in asset management. It was bailed out by the Bank of England. Mr. Byers received his M.B.A. in Finance from Roth Graduate School of Business, Long Island University and his B.A. 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. 2022 Barings PARTICIPATION INVESTORS 2022 Annual Report BARINGS. Mr. Byers served as an Independent Director and Chairman of Sierra Income Corporation, a non-traded business development company (BDC) sponsored by Medley LLC (NYSE:MCC), from 2012 to 2022. 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. The collapse of Baring's Bank in 1995 occurred principally as a result of huge losses that resulted from unauthorized derivatives trading activity by the head of the Singapore office Nick Leeson. He currently serves on the board of McKim and Creed, a North Carolina based professional engineering services firm. Download 454 KB. Ms. Lancaster-Beal is a financial professional with extensive management and board level experience in corporate governance, credit and financial analysis. Our broad capabilities allow us to go beyond traditional fixed income strategies and access investments spanning the quality, yield and liquidity spectrum. Ms. Lancaster-Beal holds a B.A. Since 2014, Mr. Byers has been engaged periodically as an independent consultant to provide expert reports and opinions in financial and investment related matters. Founded in 1762, Barings was the oldest merchant bank in Britain before its collapse in 1995.1 The 233-year-old bank was brought down single-handedly by its employee, Nicholas William Leeson,2 better known as Nick Leeson, a derivatives trader and general manager at the Baring's Singapore office.3 After landing the bank with a debt of S$1.4 .

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