Former Barclays Plc chief executive officer Martin Taylor said he refused an offer from Robert Diamond, then head of Barclays Capital, to resign in 1998 over a breach of rules on the bank’s investment in Russian bonds, Taylor wrote in the Financial Times.
Nevsky Capital LLP’s Martin Taylor , who decided a year ago to step away from the “intensity” of running a $3.3 billion hedge fund, is starting a new version one-fourth the size, said two people with knowledge of the plan.
Every morning, from his desk by the bathroom at the far end of Royal Bank of Scotland Group Plc’s trading floor overlooking London’s Liverpool Street station, Paul White punched a series of numbers into his computer.
Richard Sharp, a member of the Bank of England’s Financial Policy Committee, said the so-called London Whale losses at JPMorgan Chase & Co. illustrate the financial-stability risks posed by firms “too big to manage.”
American Robert Diamond once mocked “Little England” regulators for failing to match his global ambitions. He sparked a power shift that cost him his job and changed the way the world’s top financial center is governed.
The U.K. Financial Services Authority will be swept away next week after nearly 16 years, replaced by two new regulators with greater powers to intrude into banks’ business models, ban sales of financial products and name and shame suspects.