Diamond faces calls to return share awards July 3, 2012 BOB Diamond, who lost his job yesterday, now stands to lose millions of pounds worth of unvested shares as Barclays directors prepare to repossess the former chief executive’s bonuses. Sources close to the matter said yesterday that Diamond, who resigned as boss of Barclays yesterday after the bank was shamed for rigging interest rates, faces [...]
Labour’s role in Libor discussion under scrutiny July 3, 2012 REVELATIONS that “a number of senior officials in Whitehall” allegedly raised questions about Barclays’ Libor submissions last night led to fevered speculation about the previous Labour government’s role in the scandal. The claims are reported in a memo sent by Barclays’ Bob Diamond in 2008 at the height of the financial crisis. Alistair Darling, who [...]
The bold banker who led Barclays’ shake-up July 3, 2012 ROBERT E Diamond Junior isn’t going down without a fight. The belligerent Barclays chief executive, once described as the “unacceptable face of banking”, has had a career of hard-won deals, boardroom battles and bruising run-ins with regulators to prepare him for today’s parliamentary showdown. Massachusetts-born Diamond spent 16 years at Barclays, turning the investment bank [...]
The Barclays number three who got the wrong idea about Libor July 3, 2012 BARCLAYS’ newly appointed chief operating officer Jerry del Missier followed his chief executive Bob Diamond and resigned from the bank yesterday in the wake of the interest rate-rigging scandal. Barclays said he will leave with immediate effect. He is thought to be the executive mentioned by the FSA as having misunderstood the Bank of England’s [...]
Now Scotland probes firms over rate fixing July 3, 2012 SCOTTISH prosecutors yesterday went public with their own investigation into the banking sector. The Crown Office confirmed that an ongoing probe into the financial sector in Scotland will be extended to cover Libor-rigging “as a result of recent developments”. It said the probe had been underway for some time, but decided to reveal its investigation [...]
Rudderless ship turns to Agius in hunt for CEO July 3, 2012 AS BARCLAYS’ top management continued to fall like dominoes yesterday, the bank was forced to turn to outgoing chairman Marcus Agius to lead its hunt for a successor to Bob Diamond. Agius, the first scalp to be claimed as a result of the Libor scandal, announced his intention to leave the bank on Monday morning. [...]
Hit to bank’s reputation is instant and damning July 3, 2012 LAST week the NatWest computer glitch; this week another bank, another crisis and more damage to a brand. The Libor scandal has hit Barclays’ brand hard and fast and while the impact on customers may be less obvious than with NatWest’s difficulties, the trajectory of the crisis on brand perception was very similar. Let’s look [...]
CITY VIEWS | WAS BOB DIAMOND RIGHT TO QUIT? July 3, 2012 ANDREAS KLEIN MIZUHO I think it’s great to take the media heat off the banks, but it’s unfortunate because Diamond was a great chief executive of the bank. He’s the fall guy of an unfortunate story – it’s a shame but it had to be done. t’s a shame but it’s a move that had [...]
Stelios boosts bid to oust Rake July 3, 2012 SIR Stelios Haji-Ioannou yesterday escalated his efforts to oust Sir Mike Rake as EasyJet chairman by filing papers for an extraordinary general meeting of shareholders. “Everyone can see Mike Rake’s deep conflicts of interest and entrenched positions in the disgraced City establishment,” he claimed, questioning the former Barclays boss’s ability to run a public company [...]
Treasury wants to jail reckless bank directors July 3, 2012 RECKLESS bankers who take excessive risks could end up in jail under plans unveiled by the Treasury last night. Following the Financial Services Authority report that revealed widespread management failures in the run-up to the collapse of RBS, the government also wants to make it harder for the bosses of failed banks to take up [...]
