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Former Barclays Executive Jerry del Missier Not Doing Bob Diamond Any Favors

Barclays ex-chief operating officer, Jerry del Missier, contradicted Robert Diamond, saying his former boss told him to submit artificially low Libor rates, and blamed compliance managers for failing to act. Del Missier, 50, told Parliament’s Treasury Committee today that he received an instruction from Diamond, then chief executive officer, that he took to have come from the Bank of England. He said he then “passed the instruction along” to Mark Dearlove, head of the bank’s money-markets desk, to lower its contributions for the London interbank offered rate… [Bloomberg, related]

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11 Responses to “Former Barclays Executive Jerry del Missier Not Doing Bob Diamond Any Favors”

  1. Guested says:

    Watching for an inappropriate Twitter message from Little Miss Diamond in 3…2…

  2. VonSloneker says:

    Nobody puts baby in the corner…hmd

    – Nell

  3. Bugs says:

    We're holding a spot for him at the outcast's bridge table.

    – Jimmy Cayne

  4. Barclays Global says:

    The issue stemmed from a inability to translate messages accurately between Bobby's American and Jerry's British. It pervaded the whole corporation.

  5. UBS London Trader says:

    Nobody was ever willing to lend to us in inter-bank markets, so I reported the LIBOR as 0.

  6. HFguy says:

    "Barclays ex-chief operating officer, Jerry del Missier, contradicted Robert Diamond, saying his former boss told him to submit artificially low Libor rates, and blamed compliance managers for failing to act."

    Don't blame Del Missier "The 50 Yr Old Kid"

  7. F. Pantangeli says:

    The FBI guys promised me a deal. So I made up a lot of stuff about Michael Corleone. Because then, that's what they wanted. But it was all lies. Everything. They said Michael Corleone did this, Michael Corleone did that. So Isaid, "Yeah, sure."

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