Capital Allocators – Inside the Institutional Investment Industry Mike Freno – Confident Humility at Barings (EP.374)
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Mar 14, 2024 Mike Freno, Chairman & CEO of Barings, leads a $400 billion global investment firm with a rich history. He discusses his journey from accounting to investment leadership and the strategic evolution of Barings through acquisitions. Freno emphasizes the synergy between insurance ownership and asset management, revealing how long-term thinking shapes decision-making. He also shares personal insights about leadership, including the importance of swift decisions and the lessons learned from mentors that highlight teamwork and humility.
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Career Transition
- Mike Freno's career began in accounting but transitioned to a hedge fund startup.
- This shift allowed him to use his accounting skills in distressed debt and trading.
Barings and MassMutual
- Barings, originally a merchant bank, became MassMutual's asset management arm.
- MassMutual was innovative in 2000 by managing money for third parties, benefiting policyholders.
Acquisitions and Consolidation
- MassMutual acquired multiple asset management brands, including Barings from ING in 2004.
- They then consolidated four brands under the Barings name in 2016.