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Barclays’ management has come under fire since the bank was fined $453 million last week by U.S. and British regulators for submitting false reports on interbank borrowing rates between 2005 and 2009. Much of that activity originated from traders in Barclays Capital, the division which Diamond headed at the time. “The external pressure placed on Barclays has reached a level that risks damaging the franchise — I cannot let that happen,” Diamond said. “I am deeply disappointed that the impression created by the events announced last week about what Barclays and its people stand for could not be further from the truth.” Bob Diamond, Barclays Chief Executive, Quits Amid Mounting Pressure Over Rate-Fixing Scandal

Barclays’ management has come under fire since the bank was fined $453 million last week by U.S. and British regulators for submitting false reports on interbank borrowing rates between 2005 and 2009. Much of that activity originated from traders in Barclays Capital, the division which Diamond headed at the time.

“The external pressure placed on Barclays has reached a level that risks damaging the franchise — I cannot let that happen,” Diamond said. “I am deeply disappointed that the impression created by the events announced last week about what Barclays and its people stand for could not be further from the truth.”

Bob Diamond, Barclays Chief Executive, Quits Amid Mounting Pressure Over Rate-Fixing Scandal

  1. alternageek reblogged this from huffingtonpost and added:
    He may also get a payout of £30 MILLION pounds for messing with everyone lives. If ordinary folk do things like this, we...
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