Barings' CIO To Retire
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Thursday, July 05, 2007

Barings' CIO To Retire

Michael Hughes, chief investment officer of Baring Asset Management, which is part of MassMutual Financial Group, will retire at the end of the year. Marino Valensise, currently head of Barings’ fixed income and currency team, has been tapped to replace Hughes. Alan Wilde, currently deputy head of the fixed income team, will replace Valensise as head of the fixed income and currency team.

Baring Asset Management announces that Chief Investment Officer Michael Hughes will be retiring at the end of 2007. The role of Chief Investment Officer will be assumed by Marino Valensise, currently Head of Barings’ Fixed Income and Currency team.

Michael joined Baring Asset Management in 1998. He joined from Barclays Capital, where he was the Group Economic Advisor and the Chairman of Barclays Capital Pensions Ltd. Prior to that he was a Managing Director and Global Head of Economics and Investment Strategy at BZW Securities Limited.

Marino Valensise joined Barings in 1999 and has over twenty years of investment experience. As Head of Fixed Income and Currency, he has been at the forefront of developments in areas such as Targeted Return Fixed Income, Absolute Return Bond investing and most recently the development of a fixed income 130/30 product for our clients.

Alan Wilde, currently Deputy Head of the Fixed Income Team, will step up to lead the Fixed Income and Currency team. Alan has over 22 years of experience covering a broad range of fixed income products. Prior to joining Baring Asset Management in 2004, Alan worked for Abbey National Asset Managers where he was Head of the Fixed Income Team.

Baring Asset Management

Baring Asset Management is an international investment management firm with investment skills, clients and business locations spanning world markets. Our investment competency encompasses developed and emerging market equity, fixed income and multi-asset portfolio management services offered to institutions, retail investors and private individuals. Worldwide clients include public and corporate pension plans, government agencies, financial institutions, charitable organizations, mutual funds and private individuals.

Baring Asset Management is part of the MassMutual Financial Group, a global, diversified financial services organization. Massachusetts Mutual Life Insurance Company (MassMutual) is one of the largest life insurance businesses in the USA.

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