Abigail with attitude: Diamond and the ominous new constellation

By:
Abigail Hofman
Published on:

And talking of Lehman’s bankruptcy, I was intrigued to read an opinion editorial in the Financial Times written by Bob Diamond, the former chief executive of Barclays Bank. Bob of course pounced on the corpse of Lehman Brothers as it was drowning and made off with a succulent limb: the US broker-dealer operations. As regular readers know, buccaneering Bob’s tenure at Barclays was not all plain sailing, especially when it came to relations with the regulators. There were heated discussions over the Protium transaction, quibbles over the emergency fund-raisings in 2008 and then the issues around the manipulation of Libor. Come to think of it, surely didactic Diamond lost his job because of a regulator?...