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3. He also spent eight years at Price Waterhouse. Lloyd has served as chairman since 2021 and CEO and director since 2018. 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. Performance evaluation is a key means by which boards can recognise and correct corporate governance problems and add real value to their organisations. 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 previously served on the Highwoods Board of Directors and Audit Committee from 2012 through 2014. 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. The firm's star trader was illicitly pursuing a strategy akin to Chief Human Resources & Communications Officer, Head of Europe & Asia Pacific Real Estate, Learn More about Barings Insurance Solutions. 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. By managing risk judiciously, the board tries to maintain a balance between enterprise . Our broad capabilities allow us to go beyond traditional fixed income strategies and access investments spanning the quality, yield and liquidity spectrum. Barings' team-based culture seeks to deliver long-term financial security and builds a sustainable future in service to our clients, colleagues and communities. From 2011 until 2019, he served as Executive Director of Catawba Lands Conservancy, a nonprofit land trust. He currently serves on the board of McKim and Creed, a North Carolina based professional engineering services firm. The Bank had been founded by his ancestor Francis Baring in 1762. 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 . Barings subadvises a series of mutual funds for MassMutual Funds. in 2019) resulting from fraudulent investments, primarily in futures contracts. 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. Eric also works closely with all the investment teams at Barings LLC. John Houblon (1694-1699, 1700-1712) (First Governor 1694-1697) David has worked in the financial services industry since 2004. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. Robert Knapp brings over 25 years of experience in the financial services industry to the Board. 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 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 previously served on the Highwoods Board of Directors and Audit Committee from 2012 through 2014. 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. Copyright 2023 Barings. 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. FHLBank Pittsburgh's Executive Management and Board of Directors are highly tenured in the financial services industry. Ms. Lancaster-Beal is a financial professional with extensive management and board level experience in corporate governance, credit and financial analysis. Read or watch our latest perspectives on ESG and sustainability. The average Barings hourly pay ranges from approximately $30 per hour for an Intern to $65 per hour for a Summer Analyst. It deals with the guidelines governing OP Financial Group's internal control, ensures that . Read, watch and listen to the latest insights from our global investment teams. 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. Company. 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). She has built a reputation as an executive with a strategic and pragmatic approach to talent management with an eye toward bottom line results. 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. By proceeding to our site you agree to our Cookies Notice and our site Terms and Conditions. Learn More About FHLBank Pittsburgh Corporate Governance. 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. "There was a stack of paper, "recalls visiting official Tony Railton, senior clerk for futures and Throughout history, Barings has been a leader in providing global, innovative, diversified solutions to clients. *As of June 30, 2022. Prior to his current role, he served as Head of Private Assets. . Read our latest news, meet our experts and explore our content. Our broad capabilities allow us to go beyond traditional fixed income strategies and access investments spanning the quality, yield and liquidity spectrum. David has worked in the financial services industry since 2004. Additionally, the strategies and funds may not be available to all investor types in all jurisdictions. 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. Board of Directors - B of D: A board of directors (B of D) is a group of individuals, elected to represent stockholders . Prior to his current role, he served as Head of Private Assets. Barings subadvises a series of mutual funds for MassMutual Funds. David holds a B.S. 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. He was a director of Dunlop Holdings from 1981 to 1984. 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. 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, previously known as Baring Brothers & Co. 4. Evaluating Boards and Directors. Location not listed? 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. This material should not be construed as a recommendation, and Barings is not soliciting any action based upon such information. Jill received a Bachelor of Science from Clemson University and a Masters in Organization Behavior and Development from Fielding University. John currently serves on the boards of The Mint Museum and the National Association of Corporate Directors, Carolinas Chapter. Among its many accomplishments over the centuries, Barings financed both the Louisiana Pur- chase in 1803 and the Napoleonic Wars. The Barings Investment Institute explores the forces that shape long-term investment and capital decisions. He was invited several times to the annual meeting of the Bilderberg Group. He is also an independent board director of Heliconia Capital Management, an investment firm owned by Temasek focused on growth oriented Singapore companies, and is Chairman of the Singapore Government's Health Promotion Board. 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. The Board of Directors was composed of a number of people who have displayed poor moral character and are willing to conduct fraudulent activity. Michael is the CEO and chairman of CAS. Mark is a Certified Public Accountant and is a graduate of St. Bonaventure University. 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. Prior to this, she served as Managing Director at M.R. He currently serves on the board of McKim and Creed, a North Carolina based professional engineering services firm. 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. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. He holds a B.S. Barings is a $349+ billion* global investment manager sourcing differentiated opportunities across public and private fixed income, real estate, and specialist equity markets. Jill received a Bachelor of Science from Clemson University and a Masters in Organization Behavior and Development from Fielding University. Implications of the Barings Collapse for Bank Supervisors. 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. 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. The collapse of Barings Bank in February 1995 was caused by colossal losses incurred by a single rogue trader. Mark joined Highwoods in September 2014. Apart from serving as a Non-Executive Director of BNF Bank p.l.c., Mr Borg also chairs the Bank's Credit Approval Committee. 2022 Barings PARTICIPATION INVESTORS 2022 Annual Report BARINGS. Androscoggin Bank Headquartered in Lewiston, Maine, the Bank has been fiercely independent for 150 years. Additionally, Robert serves as a member of the Board of Managers of Veracity Worldwide LLC. Explore our latest press releases and contact our media relations team. 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. 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 . Visit our Global Site. This mission continues to drive the firm today. 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. The Nomination and Corporate Governance Committee identifies and recommends to the Board of . 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. This material should not be construed as a recommendation, and Barings is not soliciting any action based upon such information. Key Points. *As of June 30, 2022. Prior to these positions, he served as a Clinical Scientist, Flight Surgeon and Astronaut for NASA. Prior to this, she served as Managing Director at M.R. Our experienced team seeks differentiated sources of return across private equity, real assets and asset-based investments. 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. This material should not be construed as a recommendation, and Barings is not soliciting any action based upon such information. 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 link below will redirect you to their website for more information. 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. 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. 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. 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 Economics from Long Island University. The link below will redirect you to their website for more information. The Chairman of the Committee is Mr Jean-Bernard Lvy. Barings Insurance Solutions group develops customized solutions leveraging the firms experience and capabilities across public and private asset classes. 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. Dr. Harris currently serves as Director or Trustee of several registered investment companies and other public and private organizations. Eric also works closely with all the investment teams at Barings LLC. Robert Knapp brings over 25 years of experience in the financial services industry to the Board. In some jurisdictions this website may contain advertising. A Board's mandate is to establish policies for corporate management and . In this interview-style podcast, we offer insight into where our global teams are seeing risks and opportunities today. Barings BDC, Inc. 300 South Tryon Street Governance Statement. 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. She has built a reputation as an executive with a strategic and pragmatic approach to talent management with an eye toward bottom line results. Essay Sample. 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 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 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. Read, watch and listen to the latest insights from our global investment teams. 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. 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. 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. 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. He also acted as managing director for over ten years with Millennium Partners. Barings' team-based culture seeks to deliver long-term financial security and builds a sustainable future in service to our clients, colleagues and communities. She is on several non-profit boards and active in the community with a focus on education, the arts, and homeless prevention. 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. In December 2014, Mr. Byers was recognized by the National Association of Corporate Directors as a Board Leadership Fellow. In May of this year, Pearl Meyer published the 2021 Banking Board of Directors Compensation and Governance Practices Survey . The challenge for boards is to prevent crises in the organisations they govern. He also acted as managing director for over ten years with Millennium Partners. The average Barings salary ranges from approximately $100,889 per year for an Analyst to $604,854 per year for a Managing Director. The company's board of director consists of 9 directors; 6 independent directors and 3 executive directors. 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 . John currently serves on the boards of The Mint Museum and the National Association of Corporate Directors, Carolinas Chapter. "There was a stack of paper, "recalls visiting official Tony Railton, senior clerk for . We build high-conviction portfolios based on fundamental, bottom-up research and ESG integration, seeking to identify companies with strong growth potential. 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 . Throughout history, Barings has been a leader in providing global, innovative, diversified solutions to clients. In some jurisdictions this website may contain advertising. Location not listed? Barings Bank was founded in 1762 as the John and Francis Baring Company by Sir Francis Baring, 1st Baronet, with his older brother John Baring as a mostly silent partner. shareholders not already directors of the bank at the time. 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. Barings' team-based culture seeks to deliver long-term financial security and builds a sustainable future in service to our clients, colleagues and communities. 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. A career at Barings means joining a world-class firm with a collegial culture and rich history in asset management. In the end, his losses accounted for 827 million (or $1.4 billion), twice Barings's available trading capital. 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. It was bailed out by the Bank of England. All rights are reserved. 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. As a global and publicly traded financial institution, Scotiabank recognizes the need to adhere to best practices in Canadian and international corporate governance. 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. 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.