MassMutual, a US-based mutual life insurance company, is planning to combine its four institutional asset management affiliates under the Barings brand.
The four affiliates include Baring Asset Management, Babson Capital Management, Cornerstone Real Estate Advisers, and Wood Creek Capital Management.
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This merger will create a global, multi-asset investment management firm with over $260bn of assets under management, offices in 20 countries, and over 1,700 professionals.
The combined entity will be based in Charlotte, North Carolina and headed by Tom Finke, chairman and CEO of Babson.
Subject to regulatory approval, MassMutual intends to complete the first phase of integration of the four brands in the fourth quarter of 2016.
The firm in a statement said that the merger will not result in any change in investment leadership, but will combine distribution and marketing capabilities to support the new firm.
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By GlobalDataFollowing the merger, Barings brand and logo will be refreshed to reflect the global nature of the new Barings and signify the unified platform of the affiliates.
Barings chairman and CEO of David Brennan, who will retire in summer of 2016 said: "This is an exciting opportunity for the Barings organization to combine with its affiliates to create a new, more diversified global manager."
MassMutual chairman, president and CEO Roger Crandall said: "We appreciate David’s commitment to help ensure a smooth and seamless process, as well as his outstanding leadership during his 14 years as Chairman and CEO of Barings, and welcome Tom into his new leadership role in the unified firm."
