September 28, 2021

London: Lock Up Your Libor-Setters

Bob Diamond is back in town!
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By World Economic Forum [CC BY-SA 2.0], via Wikimedia Commons

By World Economic Forum [CC BY-SA 2.0], via Wikimedia Commons

After five years in exile, findinghimself in Africa and gazing intently across the Atlantic from his refuge in New York City, former Barclays CEO Bob Diamond is making his grand re-entry into British investment banking.

Bob Diamond, the American banker who left Barclays PLC five years ago, is back in town to buy ailing stock broker Panmure Gordon & Co. PLC….

Its new owners said they want to build it into a larger boutique investment bank with more products, despite regulatory and structural pressures that have weighed on the earnings of Panmure and its rivals.

London Lures Bob Diamond Back [WSJ]

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Barclays' Board May Have Banned Bob Diamond From Coming Within 200 Feet Of The Building But That Doesn't Mean They Want To See The Poor Guy Driving Himself Around Town

As you may recall, over the summer, former Barclays CEO Bob Diamond resigned in disgrace after revelations that bank employees had engaged in rampant rate rigging on his watch. And while the scandal clearly had an affect on his last performance review, Bob and friends o' Bob will be pleased to hear that it didn't actually hurt him too badly come pay day! In addition to a couple million pounds (for half a year's work), it was announced today that Diamond's 2012 package also includes lodging while he's visiting old colleagues in town, as well as a company car and driver. No need to see the guy reduced to dirtying his hands opening door or walking, when he's already been through so much.