Barclays boss Bob Diamond resigns
By Marcus Leach
The ongoing debacle at Barclays has, following the resignation of chairman Marcus Agius, now seen chief executive Bob Diamond resign with immediate effect.
This news caps a miserable week for the bank, starting with a record fine for trying to manipulate inter-bank lending rates, sparking a government inquiry and yesterday (Monday) calls for criminal investigations against those involved.
"I am deeply disappointed that the impression created by the events announced last week about what Barclays and its people stand for could not be further from the truth," Mr Diamond said in a statement, adding that he was stepping down because the external pressure on the bank risked "damaging the franchise".
"I look forward to fulfilling my obligation to contribute to the Treasury Committee's enquiries related to the settlements that Barclays announced last week without my leadership in question."