Barclays Plc senior executives, dozens of traders and the bank’s chief economist were all identified by regulators in a probe into interest-rate rigging that spanned continents, according to documents released in the U.K.’s first Libor-manipulation lawsuit.
Former Barclays Plc Chief Executive Officer Bob Diamond and Jerry Del Missier, the former chief operating officer of the bank, were among those who failed to block publication of their names in connection to the U.K.’s first lawsuit tied to the rigging of Libor.
As 1,100 managing directors from Barclays Capital descended on the Grosvenor House hotel near London’s Hyde Park in late September, they had more to celebrate than having successfully swallowed the North American unit of Lehman Brothers Holdings Inc. two years earlier. Their guy, Bob Diamond , the Massachusetts-born founder of Barclays Capital, had just been handed the top job at parent Barclays Plc in a sign of how he had transformed the 320-year-old British institution in his 14 years as investment bank chief, Bloomberg Markets magazine reports in its January issue.
JPMorgan Chase & Co. accused Barclays Plc of misleading a federal judge when it bought Lehman Brothers Holdings Inc. ’s defunct brokerage in the falling markets of September 2008, said a Lehman lawyer, citing a letter from JPMorgan Chairman Jamie Dimon .
The sovereign debt crisis of 2010 cannot be compared with the credit crunch of two years ago because the global banking system is more resilient this time around, according to Barclays Plc Chief Executive Officer John Varley .