Barings boosted by MassMutual merger

Business-People-Portfolio-Hire-Appointment-700x450.jpgBaring Asset Management has merged with three other asset management businesses to create a $275bn global asset manager operating under the Barings brand.

The four Massachusetts Mutual Life Insurance Company (MassMutual) affiliates to be integrated are Babson Capital Management and its subsidiaries Cornerstone Real Estate Advisers, Wood Creek Capital Management and Baring Asset Management.

As a result of the merger Russ Morrison has been appointed president of the firm and will head up the global fixed income, equity and multi-asset strategies, while Scott Brown will lead global real estate and Anthony Sciacca will oversee the global alternative investments and private equity. In addition the Barings logo has been rebranded.

Tom Finke, chief executive at Barings, says the merger “marks an exciting moment in our history” and will help the firm to provide “innovative solutions to help our clients meet their investment objectives”.

“The new Barings possesses expanded depth and breadth of expertise across the global fixed income, equity, real estate and alternative asset markets,” he says.

“In addition, our integrated global footprint gives us a broader perspective, access to a more-diverse set of opportunities and strengthens our ability to invest across global markets.”

Roger Crandall, chief executive at MassMutual, adds: “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.”