Bob Diamond Scandal: Barclays Plc CEO quits with Immediate effect
Barclays CEO Bob Diamond quits
Bob Diamond Scandal – Barclays Plc Chief Executive, Bob Diamond quit over an interest rate-rigging scandal.
This was recorded as the highest-profile victim so far in a probe that spans a dozen major banks across the world.
Britain’s third-largest bank said that outgoing chairman Marcus Agius – who himself announced his departure a day earlier – would lead the search for a new executive.
“The external pressure placed on Barclays has reached a level that risks damaging the franchise – I cannot let that happen,” Diamond said in a statement.
See Barclay Plc Wikipedia details (Opens in another Window)
Agius announced his resignation on Monday in the scandal over traders manipulating the London Interbank Offered Rate (Libor), which is used worldwide as a benchmark for prices on about $350 trillion of financial products.
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Category: World News
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