Baring Asset Management
|Headquarters||155 Bishopsgate, City of London, UK|
|Key people||David J. Brennan (Chairman and CEO)|
|AUM||$60.3 billion (September 2013)|
Baring Asset Management Limited, also known as Barings, is an international investment management firm. Former parent company Barings Group originally established an asset management arm in 1955, and Baring Asset Management was formally created in 1989.
Baring Asset Management is now owned by Massachusetts Mutual Life Insurance Company (MassMutual) and operates as a subsidiary of MassMutual Financial Group, a diversified financial services organisation. Baring Asset Management has its head office in London and other regional offices around the globe: Europe (United Kingdom, Germany, France), Asia Pacific (Hong Kong, Korea, Taipei, Tokyo), North America (Boston, San Francisco, Toronto) and Middle East (Dubai).
Barings, originally established as a firm of merchants and merchant bankers, was formed in London in 1762.
In the 1950s, Barings realised the potential of asset management and set up its own investment department in 1955. Clients were corporate clients, sovereign connections, pension funds and charitable institutions. In the 1970s, Barings expanded this business internationally with offices in the Far East, North America and Europe. In 1989, Barings combined all of its asset management activities within Baring Asset Management Limited, headquartered in London. In 1995, Barings Bank, the oldest investment bank in Britain, collapsed as a result of unauthorised trading by its head derivatives trader in Singapore, Nick Leeson, who was imprisoned for six and a half years in Singapore. It was then bought by ING Group, a Dutch bank for £1.
In March 2005, Baring Asset Management was split and Massachusetts Mutual Life Insurance Company (MassMutual) acquired Baring Asset Management’s investment management activities and the rights to use the Baring Asset Management name. Northern Trust acquired Baring Asset Management’s Financial Services Group.
Recent notable events
2010 – Baring Asset Management wins the Queen’s Award for Enterprise 2010 in the International Trade Category
2012 – 250th Anniversary
2013 – Baring Asset Management completes acquisition of SEI Asset Korea Co., Ltd (SEIAK)
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- John Orbell (1995), Baring Brothers & Co., Limited: a history to 1939. London: Baring Brothers & Company
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