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 material should not be construed as a recommendation, and Barings is not soliciting any action based upon such information. He also acted as managing director for over ten years with Millennium Partners. 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. Ms. Lancaster-Beal holds a B.A. 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. 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. 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. 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. Prior to PaineWebber, Mr. Byers was an executive at Citibank/Citicorp from 1979 to 1986. Visit our Global Site. Evaluating Boards and Directors. Download 454 KB. The phrase "board of directors" often is used interchangeably with terms such as " board of trustees ," "board of governors," or simply "the 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. 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. . Our global presence and longstanding expertise allows us to evaluate and capture the yield potential of illiquid and less liquid credit-based investments. Was the Barings Bank Board of Directors culpable for the losses of Nick Leeson? We build high-conviction portfolios based on fundamental, bottom-up research and ESG integration, seeking to identify companies with strong growth potential. 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. Prior to this, she formed and led the Leadership Practices Group at Wachovia to create and implement a company-wide talent management process that identified, developed, tracked and promoted high potential leaders throughout their careers. { board.total_asset_count }} View all Boards View all Sets CREATE BOARD. 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 company's board of director consists of 9 directors; 6 independent directors and 3 executive directors. Eric also works closely with all the investment teams at Barings LLC. 2231 Words. 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. 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. As Britain prospered, so did the bank and Sir Francis Baring. 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. Additionally, the strategies and funds may not be available to all investor types in all jurisdictions. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. In December 2014, Mr. Byers was recognized by the National Association of Corporate Directors as a Board Leadership Fellow. 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. 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. 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 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. Barings' team-based culture seeks to deliver long-term financial security and builds a sustainable future in service to our clients, colleagues and communities. Location not listed? and "Blueprint Communities" is a registered service mark of the Federal Home Loan Bank of . Additionally, Ms. Lancaster-Beal served on the Board of Regents of Georgetown University from 2006 to 2010. This was the genuine . Our broad capabilities allow us to go beyond traditional fixed income strategies and access investments spanning the quality, yield and liquidity spectrum. Eric is an Executive Sponsor of both the Veterans and the Out & Allies Employee Resource Groups. in Economics from Long Island University. In this interview-style podcast, we offer insight into where our global teams are seeing risks and opportunities today. Our paper provides a practical introduction to board and director evaluations. 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 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. He currently serves on the board of McKim and Creed, a North Carolina based professional engineering services firm. Breakdown of Risk Controls at Barings Bank. 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. Additionally, the strategies and funds may not be available to all investor types in all jurisdictions. Join Our Relations Mailing List . 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. Executive Chairman of the Board and Chief Executive Officer. 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. The collapse of Baring Bank. 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 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. We build high-conviction portfolios based on fundamental, bottom-up research and ESG integration, seeking to identify companies with strong growth potential. 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. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. Recent scandals such as Enron and WorldCom and earlier ones like Maxwell (Clarke, 1993) and Barings Bank (Hogan, 1997) cast doubt on the effectiveness of the unitary board while failures such as . 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. 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 subadvises a series of mutual funds for MassMutual Funds. 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. If you have questions or would like more information about our offerings, please get in touch with us. Previously, Richard held various roles in Barings Bank, which he joined in 1976, latterly as Head of Barings . 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 We are committed to sustainable practices and responsible investment. 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. 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. A career at Barings means joining a world-class firm with a collegial culture and rich history in asset management. 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 . From 2011 until 2019, he served as Executive Director of Catawba Lands Conservancy, a nonprofit land trust. Barings Insurance Solutions group develops customized solutions leveraging the firms experience and capabilities across public and private asset classes. 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. P. 223-224 Yes. View Management Team View Board of Directors. In some jurisdictions this website may contain advertising. Jill received a Bachelor of Science from Clemson University and a Masters in Organization Behavior and Development from Fielding University. in Economics from Long Island University. Throughout history, Barings has been a leader in providing global, innovative, diversified solutions to clients. Read or watch our latest perspectives on ESG and sustainability. . Read, watch and listen to the latest insights from our global investment teams. Learn More about Barings Insurance Solutions. Best Essays. David holds a B.S. 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. Copyright 2023 Barings. The collapse of Baring's Bank in 1995 occurred principally as a result of huge losses that resulted from unauthorized derivatives trading . 2022 Barings PARTICIPATION INVESTORS 2022 Annual Report BARINGS. 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. Ironsides and related entities serve as the manager and general partner to various funds and managed accounts for institutional clients. We are committed to sustainable practices and responsible investment. Ironsides and related entities serve as the manager and general partner to various funds and managed accounts for institutional clients. 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 also spent eight years at Price Waterhouse. Ms. Lancaster-Beal holds a B.A. He was a director of Dunlop Holdings from 1981 to 1984. 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. 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. 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 . The staff at Baring Futures Singapore pried open a drawer always kept locked by Nicholas Leeson in February. We build high-conviction portfolios based on fundamental, bottom-up research and ESG integration, seeking to identify companies with strong growth potential. Location not listed? 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). Barings' team-based culture seeks to deliver long-term financial security and builds a sustainable future in service to our clients, colleagues and communities. 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. 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. Location not listed? He also acted as managing director for over ten years with Millennium Partners. John currently serves on the boards of The Mint Museum and the National Association of Corporate Directors, Carolinas Chapter. Barings Bank, founded in 1762, was one of the world's oldest merchant banks, renowned for having facilitated the Louisiana Purchase.The bank declared bankruptcy in 1995 after losing 827 million (approximately $1.3 billion) due to unauthorized trading activities from one of its employees, Nick Leeson. She is on several non-profit boards and active in the community with a focus on education, the arts, and homeless prevention. View detailed BBDC description & address. 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 Chairman of the Committee is Mr Jean-Bernard Lvy. The challenge for boards is to prevent crises in the organisations they govern. 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 . Chief Human Resources & Communications Officer, Head of Europe & Asia Pacific Real Estate, Learn More about Barings Insurance Solutions. Implications of the Barings Collapse for Bank Supervisors. 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. 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. During 2019, CAS's profit had fallen 30% and its share price declined. 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.