Robert Diamond, who stepped down as head of Barclays Plc last year amid a rate-rigging scandal, is considering backing a firm started by former executives at the bank’s investment unit that was acquired by BlackRock Inc. in 2009, according to a person familiar with the matter.
Robert Diamond, ousted as chief executive officer of Barclays Plc after the U.K. bank was fined for rigging interest rates last year, said he was unaware of the mechanics of how the London interbank offered rate was set, according to the New York Times.
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.
Barclays Plc’s investment-banking chief Rich Ricci and wealth-management head Tom Kalaris, two of the last remaining members of former Chief Executive Officer Robert Diamond’s management team, will step down.
Barclays Plc appointed two non- executive directors to bolster oversight at the lender as Chief Executive Officer Antony Jenkins seeks to improve profitability and regain the confidence of investors and the British public.
Robert Diamond, the former Barclays Plc chief, gave $6 million to finance a Colby College building that has become a focal point for student dissent over his role at the 199-year-old school in Waterville, Maine.
Barclays Plc, the U.K.’s second- largest lender by assets, paid investment bankers bonuses “incapable of justification” as employees focused on revenue at the expense of clients, according to an internal report.
Imagine you ran a too-big-to-fail bank under criminal investigation by U.S. prosecutors. Now ask yourself this: How much of your company’s money would you pay to have the Justice Department inoculate you personally against the prospect of any government charges?