Marino Valensise, currently head of Barings' Fixed Income and Currency team, will take over as chief investment officer of Baring Asset Management when incumbent Michael Hughes retires at the end of 2007. Mr Valensise joined Barings in 1999 and has over 20 years of investment experience. As head of Fixed Income and Currency, he has been responsible for developing areas such as Targeted Return Fixed Income, Absolute Return Bond investing and most recently the development of a fixed income 130/30 product. Alan Wilde, currently deputy head of the Fixed Income Team, will step up to lead the Fixed Income and Currency team. Baring Asset Management is part of US-based MassMutual Financial Group. Massachusetts Mutual Life Insurance Company (MassMutual) is one of the largest life insurers in the US.