Bob Diamond Eases Back Into Things

Author:
Publish date:

With all the money he's saving on London hotel rooms and taxi fares and donations to his alma mater, Bob Diamond is going back into business with some old friends.

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.

Diamond, in one of his first moves since resigning after Barclays’s 290 million-pound ($436.2 million) fine for manipulating global interest rates, is in talks to provide capital to Incapture LLC, according to the person, who asked not to be identified because the information isn’t public. The one-year-old firm is planning to start investment strategies including a hedge fund supported by technology it’s developed.

Diamond Said to Weight Backing Barclays Asset Management Alumni [Bloomberg via BW]

Related

Financial Services Authority Had Doubts About This Bob Diamond Character Back In 2010

The regulator didn't specifically suspect anything re: propensity for manipulating Libor, just a general feeling it couldn't necessarily trust the guy, which Barclays chairman Marcus Agius conceded was not entirely off base. On Wednesday a British parliamentary committee release an internal record from the Financial Services Authority dating back to September 2010. The note details a discussion between Barclays Chairman Marcus Agius and then FSA chief Hector Sants during the final stages of the regulatory approval process for Mr. Diamond's promotion to CEO. In the note Mr. Sants said that Mr. Diamond had not reached "the level of openness, transparency and willingness to air issues with the FSA" of his predecessor. Mr. Agius agreed and said that the outgoing Barclays CEO John Varley would "coach" Mr. Diamond on the issue...During a meeting with lawmakers after Mr. Diamond's resignation, Mr. Agius said that the Libor issue had not been raised by the FSA when it vetted the CEO. U.K. FSA Warned Barclays Over Diamond in 2010 [WSJ]

Bob Diamond's Daughter Releases Statement Re: Father's Firing

While most offspring are typically not available for comment following the resignations, voluntary or otherwise, of their banker dads (lookin' at you, Jimmy Cayne, Jr.), earlier today prolific Tweeter Nell Diamond had this to say to the Brits who have been cheering her father's departure: "George Osborne and Ed Miliband you can go ahead and #HMD." Unfortunately the note has since been deleted (and replaced with "No one in the world I admire more than my dad. 16yrs building Barclays. Shame to see the mistakes of few tarnish the hard work of so many") but the vigorous defense was appreciated nonetheless. Previously Nell, a 2011 Princeton graduate, has had words for Ben Bernanke ("you know what bernanke? maybe tomorrow I will make lots of "projections" and YOU will miss the dumpling truck. how ya like them apples B?"), the slag heaps at Coachella ("every girl at coachella looks like pocahontas went to burning man. ugh. you probably can't even pronounce rodarte"), and the amateur hour fucks who think her name is Neil and who she should stab with a trident ("number of people who have called me neil today: 4 via email, 1 via phone. number of people to add to my billy madison lipstick kill list: 5."). Bob Diamond's Daughter Defends Her Dad [NS via DI]