Barry Evans
About Barry Evans
Barry H. Evans (year of birth: 1960) is an Independent Director of PGIM Global High Yield Fund, Inc. (GHY), serving since September 2017. He is Chair of the Dryden Investment Committee and a member of the Audit Committee and Compliance Committee, bringing three decades of fixed-income and asset management leadership, including President, COO, and CIO roles at Manulife Asset Management. He oversees 104 PGIM portfolios as part of the broader fund complex and is classified as independent under the 1940 Act .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Manulife Asset Management | President | 2005–2016 | Senior leadership overseeing global asset management |
| Manulife Asset Management | Global Chief Operating Officer | 2014–2016 | Enterprise operations leadership |
| Manulife Asset Management | Chief Investment Officer – Global Head of Fixed Income | 1998–2014 | Led global fixed income investing |
| Manulife Asset Management | Portfolio Manager roles | 1986–2006 | Fixed income portfolio management |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Manulife Trust Company | Director | 2011–2018 | Board service (financial institution) |
| Manulife Asset Management Limited | Director | 2015–2017 | Board oversight (asset management) |
| Manulife Asset Management U.S. | Chairman of the Board | 2005–2016 | Board leadership |
| Declaration Investment Management and Research | Chairman of the Board | 2008–2016 | Board leadership |
Board Governance
- Independence and tenure: Independent Director since September 2017; Board has 8 members with 6 Independent Directors; Independent Chair structure in place .
- Committee assignments (FY ended July 31, 2024): Dryden Investment Committee (Chair), Audit Committee (member), Compliance Committee (member). Audit met 4x; Dryden met 4x; Compliance met 4x .
- Attendance: Board met 8 times in FY2024; each Director then on the Board attended all Board and committee meetings (100% attendance) .
- Audit Committee independence: All Audit members (including Evans) are not “interested persons” and meet SEC Rule 10A‑3(b)(1) independence requirements .
| Committee | Role | FY2024 Meetings | Notes |
|---|---|---|---|
| Audit | Member | 4 | Committee independence under Rule 10A‑3(b)(1) |
| Dryden Investment | Chair | 4 | Reviews fund performance across fixed income/real estate/closed-end funds |
| Compliance | Member | 4 | Liaison with CCO; oversight of material compliance matters |
Fixed Compensation
- Independent Directors are paid annual compensation by the Fund; Interested Directors’ fees and expenses are paid by the Manager. Independent Directors may elect to defer fees; no retirement/pension plan for Independent Directors .
| Metric (USD) | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Aggregate Fiscal Year Compensation from GHY | $2,113 | $2,220 | $2,177 |
| Metric (USD) | CY 2022 | CY 2023 | CY 2024 |
|---|---|---|---|
| Total Compensation from PGIM Fund Complex | $372,000 | $375,000 | $385,000 |
| Deferred Compensation Elections (USD) | CY 2022 | CY 2023 | CY 2024 |
|---|---|---|---|
| Amount Deferred by Evans | $353,170 | $347,010 | $345,480 |
Notes:
- Deferred fees accrue interest at the 90‑day U.S. T‑Bill rate or the daily return of a PGIM fund selected by the director; obligations are general obligations of the Fund .
Performance Compensation
| Component | Details |
|---|---|
| Annual bonus | Not applicable for Independent Directors (no bonus program disclosed) |
| Equity awards (RSUs/PSUs) | None disclosed for directors (compensation presented as fees) |
| Stock options | None disclosed for directors |
| Performance metrics (TSR, EBITDA, ESG, etc.) | Not applicable to Independent Director compensation |
Other Directorships & Interlocks
| Category | Details |
|---|---|
| Current public company boards | None disclosed for Evans in the past five years section |
| Prior public/private boards | Manulife Trust Company (Director), Manulife Asset Management Limited (Director), Manulife Asset Management U.S. (Chairman), Declaration Investment Management and Research (Chairman) |
| Potential interlocks/conflicts | None identified with PGIM/Prudential affiliates; Evans and immediate family reported no beneficial ownership in the Fund’s adviser/underwriter or its control affiliates as of Dec 31, 2024 |
Expertise & Qualifications
- 30 years in asset management with deep fixed-income leadership (CIO – Global Head of Fixed Income) and executive operating experience (President, COO) at Manulife Asset Management .
- Oversees 104 portfolios within the PGIM fund complex, signaling broad product and oversight exposure .
- Audit Committee service with full independence and compliance with Rule 10A‑3(b)(1) strengthens financial oversight credentials .
Equity Ownership
| Item | Evans |
|---|---|
| Dollar Range of Equity Securities in GHY | Over $100,000 (as of Dec 31, 2024) |
| Aggregate Dollar Range in all PGIM registered investment companies overseen | Over $100,000 |
| Beneficial ownership in adviser/underwriter (self/immediate family) | None (as of Dec 31, 2024) |
| Ownership guidelines / time-to-compliance | Not disclosed in proxy |
Governance Assessment
- Board effectiveness and engagement: 100% attendance at Board and assigned committee meetings in FY2024; independent chair and strong committee structure support oversight quality .
- Financial oversight: Audit Committee independence under Rule 10A‑3(b)(1) and zero non‑audit fees to the auditor in FY2024 reduce conflict risk; PwC appointment subject to stockholder ratification .
- Alignment and incentives: Evans holds Over $100,000 in GHY shares; compensation is fee-based with optional deferral (no equity/options), limiting pay-for-performance risk but providing some economic alignment via personal share ownership .
- Conflicts/related-party exposure: No beneficial ownership by Evans or immediate family in the adviser/underwriter or its control affiliates; no related-party transactions involving Evans identified in the proxy sections reviewed .
- Compliance and signaling: All Section 16(a) filing requirements were met in FY2024; no delinquent filings reported .
RED FLAGS
- None identified in the current disclosures (no related-party transactions, no non-audit fees to auditor, full meeting attendance, and independent Audit Committee) .