Board of Directors - B of D: A board of directors (B of D) is a group of individuals, elected to represent stockholders . The link below will redirect you to their website for more information. leadership details. The Nomination and Corporate Governance Committee identifies and recommends to the Board of . 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 use cookies on our website to provide you with the best experience. Mr Borg is currently the CEO and an Executive Director of PG p.l.c which has recently been listed on the Malta Stock Exchange, and holds a number of other non-executive directorship positions in Malta. . 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. and "Blueprint Communities" is a registered service mark of the Federal Home Loan Bank of . The collapse of Baring's Bank in 1995 occurred principally as a result of huge losses that resulted from unauthorized derivatives trading . PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. 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. Prior to this, she served as Managing Director at M.R. Learn More About FHLBank Pittsburgh Corporate Governance. Copyright 2023 Barings. 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. Key Points. 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. Ironsides and related entities serve as the manager and general partner to various funds and managed accounts for institutional clients. Throughout history, Barings has been a leader in providing global, innovative, diversified solutions to clients. Mark joined Highwoods in September 2014. Ms. Lancaster-Beal holds a B.A. Our global presence and longstanding expertise allows us to evaluate and capture the yield potential of illiquid and less liquid credit-based investments. 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. He currently serves on the board of McKim and Creed, a North Carolina based professional engineering services firm. Previously, Richard held various roles in Barings Bank, which he joined in 1976, latterly as Head of Barings . The Scandal of Barings Bank and Olympus Essay Preview: The Scandal of Barings Bank and Olympus Report this essay Future Academic Programme: MSc Accounting and Finance (2018/2019) The University of NottinghamWord count: 2480 The scandal of Barings Bank and Olympus Dec 2018 IntroductionAccording to Bhasin (2013), "Scandals are often the 'tip of the iceberg'. Read, watch and listen to the latest insights from our global investment teams. 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 Board of Directors was composed of a number of people who have displayed poor moral character and are willing to conduct fraudulent activity. 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. 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. 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. 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. Best Essays. We build high-conviction portfolios based on fundamental, bottom-up research and ESG integration, seeking to identify companies with strong growth potential. "There was a stack of paper, "recalls visiting official Tony Railton, senior clerk for futures and Dr. Harris brings substantial executive, board and operations experience to Barings. The link below will redirect you to their website for more information. The collapse of Baring Bank. Collections; Project #ShowUs; Creative Insights; . 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. in Economics from Georgetown University and an M.B.A. from the Wharton School of Business of the University of Pennsylvania. 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. 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 Pye Holdings from 1967 to 1979. In some jurisdictions this website may contain advertising. 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.. The Barings Investment Institute explores the forces that shape long-term investment and capital decisions. 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. Investor Contact Information. 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. Androscoggin Bank Headquartered in Lewiston, Maine, the Bank has been fiercely independent for 150 years. David has worked in the financial services industry since 2004. 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. 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. 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. Robert Knapp brings over 25 years of experience in the financial services industry to the Board. four of its members are independent directors. Prior to his current role, he served as Head of Barings U.S. High Yield Credit Research Group. He previously served on the Highwoods Board of Directors and Audit Committee from 2012 through 2014. Citizens Bank of Kansas Board Director Mike Felts, of Winfield, has been named an Amazing Outside Director for 2023 by regional banking magazine BankBeat. Jill received a Bachelor of Science from Clemson University and a Masters in Organization Behavior and Development from Fielding University. Explore our latest press releases and contact our media relations team. Our paper provides a practical introduction to board and director evaluations. shareholders not already directors of the bank at the time. Regardless of the terminology, the board of directors is a group of individuals either elected or appointed to provide organizational leadership and . in Economics from Long Island University. Michael is the CEO and chairman of CAS. from the United States Air Force Academy, an M.S. Ms. Lancaster-Beal holds a B.A. 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. Creating options policies. in Economics from Long Island University. Eric also works closely with all the investment teams at Barings LLC. Read our latest news, meet our experts and explore our content. 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. 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. 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. 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. 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. John currently serves on the boards of The Mint Museum and the National Association of Corporate Directors, Carolinas Chapter. 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. from the University of Washington, and an M.B.A. from Wake Forest 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. Read, watch and listen to the latest insights from our global investment teams. Our funds offer access to specialized strategies across global fixed income. As for Barings, it become part of ING, the Dutch bank paying 1.00 for it in 1995. Prior to his current role, he served as Head of Private Assets. He currently serves on the board of McKim and Creed, a North Carolina based professional engineering services firm. We are deliberate in our direction, partnerships and decision making to achieve long-term, lasting change. All rights are reserved. The staff at Baring Futures Singapore pried open a drawer always kept locked by Nicholas Leeson in February. U.S. Bank is not responsible for the content of, or products and services provided by Intuit . He was Chairman of the Board of the Barings Bank from 1974 to 1989. All rights are reserved. 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 . 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. Managing Director & Country Head of China. . In some jurisdictions this website may contain advertising. Before that, he served as an officer in the United States Air Force and worked in the telecommunications industry for seven years. Nick Leeson, the bank's then 28-year-old head of derivatives in . He also spent eight years at Price Waterhouse. The Chairman of the Committee is Mr Jean-Bernard Lvy. 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 . It deals with the guidelines governing OP Financial Group's internal control, ensures that . 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. 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. In this interview-style podcast, we offer insight into where our global teams are seeing risks and opportunities today. Managing Risk. Mr. Byers received his M.B.A. in Finance from Roth Graduate School of Business, Long Island University and his B.A. Robert Knapp brings over 25 years of experience in the financial services industry to the 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. Dr. Harris currently serves as Director or Trustee of several registered investment companies and other public and private organizations. 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. By March 2 1995, Barings had lost over $1 billion and shortly after the UK's second oldest bank at the . 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 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. 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. 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. In some jurisdictions this website may contain advertising. 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. Eric is an Executive Sponsor of both the Veterans and the Out & Allies Employee Resource Groups. As Britain prospered, so did the bank and Sir Francis Baring. He left a $1.4 billion hole in Barings' balance sheet due to his unauthorized derivatives speculation, causing the 233-year-old bank's demise. It was neither of these things. 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 also spent eight years at Price Waterhouse. The board of directors not only helps lay out the bank's goals, but acts as a watchdog as well. Select from premium Barings Bank of the highest quality. In 1995, Barings - then the oldest bank in Britain . 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 . Essay Sample. 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. Read our latest news, meet our experts and explore our content. in Economics from Georgetown University and an M.B.A. from the Wharton School of Business of the University of Pennsylvania. Since 2014, Mr. Byers has been engaged periodically as an independent consultant to provide expert reports and opinions in financial and investment related matters. 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. She is on several non-profit boards and active in the community with a focus on education, the arts, and homeless prevention. 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. in Economics from Georgetown University and an M.B.A. from the Wharton School of Business of the University of Pennsylvania. Eric also works closely with all the investment teams at Barings LLC. Copyright 2023 Barings. 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. Since 2014, Mr. Byers has been engaged periodically as an independent consultant to provide expert reports and opinions in financial and investment related matters. 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. 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. Our broad capabilities allow us to go beyond traditional fixed income strategies and access investments spanning the quality, yield and liquidity spectrum. 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. 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. 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. This paper was laid before Parliament in . Additionally, Ms. Lancaster-Beal served on the Board of Regents of Georgetown University from 2006 to 2010. 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. 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. 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. From 2011 until 2019, he served as Executive Director of Catawba Lands Conservancy, a nonprofit land trust. 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. With investment professionals based in North America, Europe and . 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. Baring Bank was founded in 1762 by Francis Baring, a . The Board of Directors of OP Corporate Bank is responsible for organising and maintaining adequate and effective internal control. Barings' team-based culture seeks to deliver long-term financial security and builds a sustainable future in service to our clients, colleagues and communities. 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. 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 . 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. 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. Ms. Lancaster-Beal is a financial professional with extensive management and board level experience in corporate governance, credit and financial analysis.

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