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Banking

Barclays: Diamond's CEO appointment predicted in 2009

"I hear that Diamond was promised that Varley would stand down (maybe as early as 2010), and he would become chief executive"

You read it here first.

by Abigail Hofman

December 2009

"My mind wanders down another path. Could it be that Diamond and Varley have reached a Granita-type accord? According to political folklore, former UK prime minister Tony Blair and current prime minister Gordon Brown made a pact at the Granita restaurant in Islington in 1994. The two men are alleged to have agreed that Blair would become leader of the Labour party but would step down in due course to permit Brown to take over."

"Diamond was approached by Bank of America to interview for the chief executive job but declined to take it on. Perhaps as an incentive to stay with the British bank, I hear that Diamond was promised that Varley would stand down (maybe as early as 2010), and he would become chief executive."


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