Barclays Plc is reaping the benefit of ex-Chief Executive Officer Robert Diamond’s decision to buy Lehman Brothers Holdings Inc.’s North American unit, as the division helped to push equities revenue up 19 percent.
Former U.K. Foreign Secretary David Miliband, the elder brother of opposition Labour Party leader Ed Miliband, quit British politics, ending speculation about his leadership ambitions in the run-up to the 2015 general election.
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.
Barclays Plc awarded Chief Executive Officer Antony Jenkins 2.3 million pounds ($3.5 million) last year and said fewer staff earned a million pounds than in 2011 as the British bank responds to public pressure and cuts costs.
Ex-British Prime Minister Gordon Brown was “very badly served” by aides who held “unbridled contempt” for his predecessor Tony Blair, the London-based Times said, citing an interview with former Business Secretary Peter Mandelson.
Asked by a local journalist to name his favorite Swedish Social Democrat leader, Ed Miliband, the head of the British Labour Party, didn’t hesitate. “I thought you were going to give your top 10,” an aide remarked afterward. “In reverse order,” Miliband replied, deadpan.
Former Business Secretary Peter Mandelson has caused a rift with Tony Blair in producing his memoirs about the New Labour era before the former prime minister’s own book is public, the Financial Times reported, citing a friend of Blair.