The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.
Banking

The man who achieved the impossible

Barclays Capital's CEO, Bob Diamond, talks to Antony Currie about his ambitions for the firm, explains why it is not delving into prop trading and why it won't be hurt by a bursting of the bond market bubble. And he reveals that one of his favourite businesses right now is equities.

Bob-Diamond 780px


WHEN BOB DIAMOND took over as head of global markets at BZW in 1996 he was known as the senior fixed-income chap from CSFB who had been forced out after a division-wide dispute over the bonus pool. A year later he became CEO of what was left of BZW, renamed Barclays Capital, after the equities and corporate finance divisions were sold to CSFB. He was now the man with the near impossible job: how to make a decent business out of a debt markets division that seemed to be great in loans and sterling bonds but not a lot else. Headhunters claimed they had Diamond's staff queuing up in packs looking to leave.

Five and a half years later, it seems that Diamond has achieved the impossible. He's the investment bank CEO that his peers would like to be. He has held revenues steady, kept costs down and has posted a return on equity of just above or just under 20% for the past four years. He's free of the regulatory concern that afflict his rivals with equity businesses, and hasn't had to worry about making large-scale redundancies.



You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree