Barings has appointed new heads of department after completing the merger with three other firms as part of plans by MassMutual Financial Group to consolidate its asset management efforts.
At the forefront of the new changes, Russ Morrison will be the firm’s president and head of global fixed income, equity and multi-asset strategies.
This is while Scott Brown will oversee global real estate and Anthony Sciacca has been appointed head of global alternative investments and private equity.
Morrison previously served as head of Babson’s global high yield investments group. Prior to joining the firm in 2002 he was a senior portfolio manager at First Union Institutional Debt Management.
Brown has worked across all property sectors and capital structures for 30 years and joined Barings in 2014. Meanwhile, Sciacca was head global business development for Babson and has worked in the industry since 1993.
This marks the first senior changes since the merger was first announced in March 2016. It saw the subsidiary firms all rebranded under the Barings logo and name.
This saw Barings merged with Babson Capital Management and its subsidiaries Cornerstone Real Estate Advisers and Wood Creek Capital. The former chairman and CEO of Babson Tom Finke was named chairman and CEO of the new Barings
The merger makes Barings one of the world’s largest asset managers with more than $275 billion in client assets under management. It employs over 1,700 employees in 17 different countries. Over 600 of these are investment professionals working across a broad range of asset classes.
Commenting on the announcement, Rodger Crandall, who is chairman, president and CEO of Mass Mutual, said: ‘We are extremely pleased to reach this important milestone, bringing together our world-class, institutional asset management affiliates into a unified global asset manager and broadening our offerings and commitment to clients around the world.’
‘Importantly, the launch of the ‘new’ Barings builds on the distinctive legacies of these four firms, represents an important strategic step forward that further differentiates us in the marketplace and positions our asset management operations to continue to succeed and lead in the years ahead.’
Barings' CIO, Ken Lambden, departed the firm in the wake of the merger and reorganisation being announced.