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 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. Barings' team-based culture seeks to deliver long-term financial security and builds a sustainable future in service to our clients, colleagues and communities. 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. 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 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. P. 223-224 Yes. He previously served on the Highwoods Board of Directors and Audit Committee from 2012 through 2014. By selecting Continue, you will leave U.S. Bank and enter a third-party Web site. Barings Bank was Britains oldest merchant bank until it went into receivership on 27th February 1995. 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. John currently serves on the boards of The Mint Museum and the National Association of Corporate Directors, Carolinas Chapter. She has built a reputation as an executive with a strategic and pragmatic approach to talent management with an eye toward bottom line results. 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. 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. 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. 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. Throughout history, Barings has been a leader in providing global, innovative, diversified solutions to clients. Mr. Byers received his M.B.A. in Finance from Roth Graduate School of Business, Long Island University and his B.A. Jonathan ("Jon") Bock has been promoted to CEO of Barings BDC, where he has served as CFO since 2018. 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. 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. Download 454 KB. 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. 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. Prior to his current role, he served as Head of Private Assets. 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 . Androscoggin Bank Headquartered in Lewiston, Maine, the Bank has been fiercely independent for 150 years. Mark joined Highwoods in September 2014. 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. Prior to his current role, he served as Head of Barings U.S. High Yield Credit Research Group. 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 . Visit our Global Site. 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. The link below will redirect you to their website for more information. 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 . 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 was a director of Pye Holdings from 1967 to 1979. 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. We use cookies on our website to provide you with the best experience. Supporting executives and their teams. in Economics from Georgetown University and an M.B.A. from the Wharton School of Business of the University of Pennsylvania. When Nick Leeson's fraud was discovered in 1995, the banks claimed they already knew how this broker had managed to circumvent the financial institution and claimed that the loopholes in the bank's system had been . In some jurisdictions this website may contain advertising. The challenge for boards is to prevent crises in the organisations they govern. If you have questions or would like more information about our offerings, please get in touch with us. | March 1, 2023 . Before these roles, he served as the Lead Independent Director of MVC Capital, Inc., was an independent, nonexecutive director of Castle Private Equity AG, and was formerly a director of MPC Container Ships. Prior to joining 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. Our experienced team seeks differentiated sources of return across private equity, real assets and asset-based investments. Previously, Mr. Carter was an investment banking analyst in the Healthcare Group at Chemical Bank and a research assistant in the mergers and acquisitions group of Morgan . 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. 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 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. 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 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. Open Document. from the United States Air Force Academy, an M.S. 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. Apart from serving as a Non-Executive Director of BNF Bank p.l.c., Mr Borg also chairs the Bank's Credit Approval Committee. This mission continues to drive the firm today. Nick Leeson, the bank's then 28-year-old head of derivatives in . This is an incomplete list of Bank of England directors from the bank's foundation in 1694: . 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. 2022 Barings PARTICIPATION INVESTORS 2022 Annual Report BARINGS. Barings Insurance Solutions group develops customized solutions leveraging the firms experience and capabilities across public and private asset classes. See Page 1. Company. We build high-conviction portfolios based on fundamental, bottom-up research and ESG integration, seeking to identify companies with strong growth potential. Ms. Lancaster-Beal is a financial professional with extensive management and board level experience in corporate governance, credit and financial analysis. 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 offices on four continents, we have the global perspective and local presence to uncover and provide access to a superior range of investment opportunities. Barings subadvises a series of mutual funds for MassMutual Funds. Barings Insurance Solutions group develops customized solutions leveraging the firms experience and capabilities across public and private asset classes. Executive Chairman of the Board and Chief Executive Officer. Massive Losses incurred by Nick Leeson, the General Manager and Head Trader of Barings Financial Services (BFS) by reason of unauthorised and concealed trading activities within BFS. The Barings Investment Institute explores the forces that shape long-term investment and capital decisions. Many of Leeson's former colleagues lost their jobs. Additionally, Robert serves as a member of the Board of Managers of Veracity Worldwide LLC. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. 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. Learn More about Barings Insurance Solutions. All such communications should indicate clearly the director or directors to whom the communication is being sent so that each communication, other than unsolicited commercial solicitations, may be forwarded directly to the appropriate director(s). 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. This followed the discovery of massive trading losses incurred by Barings Futures Singapore (BFS), an . 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. Learn More About FHLBank Pittsburgh Corporate Governance. Read, watch and listen to the latest insights from our global investment teams. 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. Dr. Harris currently serves as Director or Trustee of several registered investment companies and other public and private organizations. Location not listed? All rights are reserved. Since 2014, Mr. Byers has been engaged periodically as an independent consultant to provide expert reports and opinions in financial and investment related matters. Key Points. A career at Barings means joining a world-class firm with a collegial culture and rich history in asset management. Ms. Lancaster-Beal holds a B.A. The Board of Directors collectively represents all shareholders. 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. Errors were of omission - lacked clear reporting lines in the highly political matrix organization; no one pressed Leeson to provide information and the Board did not pressure the management committee to formulate the risk-reporting . Join Our Relations Mailing List . Prior to PaineWebber, Mr. Byers was an executive at Citibank/Citicorp from 1979 to 1986. We are deliberate in our direction, partnerships and decision making to achieve long-term, lasting change. 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. 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. This was the genuine . Since 2014, Mr. Byers has been engaged periodically as an independent consultant to provide expert reports and opinions in financial and investment related matters. 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 . 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 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. 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 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. Additionally, the strategies and funds may not be available to all investor types in all jurisdictions. View Management Team View Board of Directors. Prior to PaineWebber, Mr. Byers was an executive at Citibank/Citicorp from 1979 to 1986. Compensation & Benefits. The staff at Baring Futures Singapore pried open a drawer always kept locked by Nicholas Leeson in February. OP Corporate Bank complies with the principles of internal control adopted by the central cooperative's Supervisory Board. On Sunday 26 February 1995, the 200-year old merchant bank blew up thanks to derivatives trading, which it believed was both risk-free and highly profitable. 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. 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). As for Barings, it become part of ING, the Dutch bank paying 1.00 for it in 1995. The average Barings salary ranges from approximately $100,889 per year for an Analyst to $604,854 per year for a Managing Director. 4 Was the Barings board of directors culpable for the losses of Nick Leeson What from FIN 690G at Wichita State University 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. in Economics from Long Island University. 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 1995, Barings - then the oldest bank in Britain . David has worked in the financial services industry since 2004. Dr. Harris currently serves as Director or Trustee of several registered investment companies and other public and private organizations. [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 . The staff at Baring Futures Singapore pried open a drawer always kept locked by Nicholas Leeson in February. from the United States Air Force Academy, an M.S. 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. leadership details. Mark is a Certified Public Accountant and is a graduate of St. Bonaventure University. 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. 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. Creating options policies. 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' team-based culture seeks to deliver long-term financial security and builds a sustainable future in service to our clients, colleagues and communities. 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. Barings's investors also lost out. The Barings Investment Institute explores the forces that shape long-term investment and capital decisions. Copyright 2023 Barings. FHLBank Pittsburgh's Executive Management and Board of Directors are highly tenured in the financial services industry. In December 2014, Mr. Byers was recognized by the National Association of Corporate Directors as a Board Leadership Fellow. In this interview-style podcast, we offer insight into where our global teams are seeing risks and opportunities today. Prior to these positions, he served as a Clinical Scientist, Flight Surgeon and Astronaut for NASA. John currently serves on the boards of The Mint Museum and the National Association of Corporate Directors, Carolinas Chapter. 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. 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. View detailed BBDC description & address. . Location not listed? Learn More about Barings Insurance Solutions. Chairman and CEO, Barings LLC Mike Freno is Chairman and CEO of Barings LLC, a $391+ billion global financial services firm with offices across the U.S., Europe, Australia and Asia. Mark is a Certified Public Accountant and is a graduate of St. Bonaventure University. Our global presence and longstanding expertise allows us to evaluate and capture the yield potential of illiquid and less liquid credit-based investments. Managing Director & Country Head of China. Mr. Byers received his M.B.A. in Finance from Roth Graduate School of Business, Long Island University and his B.A. CREATIVE. 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. In December 2014, Mr. Byers was recognized by the National Association of Corporate Directors as a Board Leadership Fellow. 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. 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. Our broad capabilities allow us to go beyond traditional fixed income strategies and access investments spanning the quality, yield and liquidity spectrum. Visit our Global Site. 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. Eric is Executive Chairman of the Board and Chief Executive Officer of Barings BDC, Inc. 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. *As of June 30, 2022. Additionally, Ms. Lancaster-Beal served on the Board of Regents of Georgetown University from 2006 to 2010. shareholders not already directors of the bank at the time. 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. A career at Barings means joining a world-class firm with a collegial culture and rich history in asset management. Board of Directors Definition. Ms. Lancaster-Beal is a financial professional with extensive management and board level experience in corporate governance, credit and financial analysis. 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. 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. Historical context-"Corporate Portrait: The Economic Might of Barings Bank" Read, watch and listen to the latest insights from our global investment teams. in Economics from Georgetown University and an M.B.A. from the Wharton School of Business of the University of Pennsylvania. 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 Bank: A British merchant bank that was started in 1762, and for centuries was considered the largest and most stable bank in the world. She has built a reputation as an executive with a strategic and pragmatic approach to talent management with an eye toward bottom line results. Additionally, the strategies and funds may not be available to all investor types in all jurisdictions. Mr. Byers is a senior executive with over 30 years of leadership experience in finance, operations and control, investment management and capital markets with leading national firms in asset management, banking and brokerage. 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. 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. She is on several non-profit boards and active in the community with a focus on education, the arts, and homeless prevention. 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. Before that, he served as an officer in the United States Air Force and worked in the telecommunications industry for seven years. Former senior directors of Barings, the bank which collapsed in 1995, face being banned from acting as company directors for up to 15 years as a result of action being taken by the Department of . It was bailed out by the Bank of England. It deals with the guidelines governing OP Financial Group's internal control, ensures that . Barings employees rate the overall compensation and benefits package 3.7/5 stars. Explore our latest press releases and contact our media relations team. Read our latest news, meet our experts and explore our content. Ironsides and related entities serve as the manager and general partner to various funds and managed accounts for institutional clients. Collections; Project #ShowUs; Creative Insights; . He currently serves on the board of McKim and Creed, a North Carolina based professional engineering services firm. We are committed to sustainable practices and responsible investment. 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. We build high-conviction portfolios based on fundamental, bottom-up research and ESG integration, seeking to identify companies with strong growth potential. Prior to his current role, he served as Head of Barings U.S. High Yield Credit Research Group. In some jurisdictions this website may contain advertising. 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. 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. and "Blueprint Communities" is a registered service mark of the Federal Home Loan Bank of . So, Barings Bank was declared insolvent on February 26, 1995, and was bought by Dutch bank ING for the symbolic sum of 1 pound. This mission continues to drive the firm today. 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.