Barclays chief executive Bob Diamond has resigned with immediate effect as the controversial banker admitted the rate-rigging scandal threatened the bank's future.
Barclays chief executive Bob Diamond has resigned with immediate effect as the controversial banker admitted the rate-rigging scandal threatened the bank's future.
The American, who has worked for Barclays for 16 years, buckled under pressure to step down from politicians, shareholders, financial campaigners and former directors.
Chancellor George Osborne, who had unveiled a parliamentary probe into banking standards, welcomed the move as the "right decision" for the bank and for the country.
Despite mounting calls for his departure, Mr Diamond's exit came as a shock as he had showed no signs of leaving his position after pledging to see an internal review through to the end.
...
http://news360.com/article/59092293
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Barclays chief executive Bob Diamond has resigned with immediate effect as the controversial banker admitted the rate-rigging scandal threatened the bank's future.
The American, who has worked for Barclays for 16 years, buckled under pressure to step down from politicians, shareholders, financial campaigners and former directors.
Chancellor George Osborne, who had unveiled a parliamentary probe into banking standards, welcomed the move as the "right decision" for the bank and for the country.
Despite mounting calls for his departure, Mr Diamond's exit came as a shock as he had showed no signs of leaving his position after pledging to see an internal review through to the end.
...
http://news360.com/article/59092293
Shared via News360 for Windows Phone 7. Learn more at http://news360app.com.
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