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One
of the Europe’s biggest banks is without any Chairman and CEO. Until a new
person is appointed, Mr. Agius will stay with the bank.
Mr.
Diamond was already under immense pressure from politicians and investors over allegations
that his company had manipulated key interest rates. The bank has already
reached an agreement to pay $453mn to Financial Services Authority and
Commodity Futures Trading Commission while it is itself carrying out an
independent internal audit of its business practices.
Tomorrow
is a big day for Mr. Diamond as he will face the UK’s Treasury Select Committee
over the ongoing scandal.
Commenting
on the events, the ex-CEO has 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,"
During
his 17 month tenure, Mr.Bob Diamond had tried to reshape Barclay’s as a leading
investment bank, a plan that received immense criticism from the bank’s investors
and could not achieve its desired results, partly due to the growing economic
crisis.
Officially,
the bank has not announced as to when the new CEO will be appointed. Analysts
are predicting Antony Jenkins, the head of the bank’s retail arm, to take over
as the new CEO.
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Relevant
Links
Bob
Diamond resigns as Barclays chief [The Telegraph]
Barclays
CEO Robert Diamond Resigns [The Wall Street Journal]
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