Fund managers say more Libor resignations are on the way
THE VAST majority of fund managers expect more heads to roll over the Libor crisis as more banks become implicated, according to a survey out today.
Capital Spreads found 84 per cent expect more chief executives to follow former Barclays boss Bob Diamond in resigning over rate manipulation.
“So far management at other major UK banks remain in their jobs,” said Capital Spreads’ Angus Campbell. “However the feeling is that it is only a matter of time before the skeletons manage to get out from the cupboard.”
Meanwhile the International Swaps and Derivatives Association warned the row between regulators on how to monitor Libor in future could create extra risks in markets.