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in Economics from Georgetown University and an M.B.A. from the Wharton School of Business of the University of Pennsylvania. Compensation & Benefits. Board of Directors :: Barings BDC, Inc. (BBDC) Read or watch our latest perspectives on ESG and sustainability. 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. This document contains the following information: Report of the Board of Banking Supervision inquiry into the circumstances of the collapse of Barings. The link below will redirect you to their website for more information. Mr. Byers received his M.B.A. in Finance from Roth Graduate School of Business, Long Island University and his B.A. 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. 4 was the barings board of directors culpable for the We build high-conviction portfolios based on fundamental, bottom-up research and ESG integration, seeking to identify companies with strong growth potential. Explore our latest press releases and contact our media relations team. In 2021, Androscoggin Bank became a Certified B Corporation , joining only nine other banks nationally to meet the highest standards of verified social and environmental performance, public transparency and legal accountability. The staff at Baring Futures Singapore pried open a drawer always kept locked by Nicholas Leeson in February. He was a director of Pye Holdings from 1967 to 1979. 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. Managing Risk. 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. Ms. Lancaster-Beal holds a B.A. 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. 2020 hindsight: what can supervisors learn from the collapse of Barings Mark joined Highwoods in September 2014. Barings' team-based culture seeks to deliver long-term financial security and builds a sustainable future in service to our clients, colleagues and communities. (PDF) Barings Bank PLC: Leeson's Lessons - Academia.edu Ms. Lancaster-Beal holds a B.A. Creating options policies. Chapter 3 Strategic Capital - The Case of Barings Bank - ResearchGate 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. He holds a B.S. Mark Mulhern. A Board's mandate is to establish policies for corporate management and . 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 . Barings is a $349+ billion* global investment manager sourcing differentiated opportunities across public and private fixed income, real estate, and specialist equity markets. Throughout history, Barings has been a leader in providing global, innovative, diversified solutions to clients. 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. Barings' team-based culture seeks to deliver long-term financial security and builds a sustainable future in service to our clients, colleagues and communities. Eric is an Executive Sponsor of both the Veterans and the Out & Allies Employee Resource Groups. Solved Financial risk management Case study: The collapse of | Chegg.com FHLBank Pittsburgh's Executive Management and Board of Directors are highly tenured in the financial services industry. 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. Board of Directors: What It Is, What Its Role Is - Investopedia BARINGS BDC, INC. ANNOUNCES MANAGEMENT PROMOTIONS - Yahoo! 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. 4. You can communicate with our Board of Directors by sending a letter addressed to the Board of Directors, non-management directors or specified individual directors to: . *As of December 31, 2022. Case Study: Barings Bank Fraud - piranirisk.com 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. All rights are reserved. In December 2014, Mr. Byers was recognized by the National Association of Corporate Directors as a Board Leadership Fellow. The Barings collapse 25 years on: What the industry learned - CNBC 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. Barings Bank was a British merchant bank based in London, and one of England's oldest merchant banks after Berenberg Bank, Barings' close collaborator and German representative.It was founded in 1762 by Francis Baring, a British-born member of the German-British Baring family of merchants and bankers.. Prior to this, she served as Managing Director at M.R. Our broad capabilities allow us to go beyond traditional fixed income strategies and access investments spanning the quality, yield and liquidity spectrum. John Baring, 7th Baron Ashburton - Wikipedia 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. Dr. Harris currently serves as Director or Trustee of several registered investment companies and other public and private organizations. John currently serves on the boards of The Mint Museum and the National Association of Corporate Directors, Carolinas Chapter. Throughout history, Barings has been a leader in providing global, innovative, diversified solutions to clients. Barings Participation Investors : 2022 Annual Report - Barings Eric is Executive Chairman of the Board and Chief Executive Officer of Barings BDC, Inc. 17 was the barings bank board of directors culpable - Course Hero This mission continues to drive the firm today. 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. 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. 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. Managing Director & Country Head of China. 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. David has worked in the financial services industry since 2004. 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 2019) resulting from fraudulent investments, primarily in futures contracts. CREATIVE. Eric also works closely with all the investment teams at Barings LLC. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. Our paper provides a practical introduction to board and director evaluations. 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. 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. and "Blueprint Communities" is a registered service mark of the Federal Home Loan Bank of . Download 454 KB. View detailed BBDC description & address. The Bank had been founded by his ancestor Francis Baring in 1762. Corporate Governance :: Barings BDC, Inc. (BBDC) 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. Jill received a Bachelor of Science from Clemson University and a Masters in Organization Behavior and Development from Fielding University. 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. Prior to this, she served as Managing Director at M.R. [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 . 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. By March 2 1995, Barings had lost over $1 billion and shortly after the UK's second oldest bank at the . 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. Our funds offer access to specialized strategies across global fixed income. All rights are reserved. Our integrated platform is focused on providing investors attractive, through-the-cycle risk-adjusted returns that are less correlated with traditional debt and equity markets. 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 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.