Diamond Is Not Forever

Don’t buy a newspaper this morning – it’s already out of date with the musical chairs:

“Barclays today announces the resignation of Bob Diamond as Chief Executive and a Director of Barclays with immediate effect. Marcus Agius will become full-time Chairman and will lead the search for a new Chief Executive. Marcus will chair the Barclays Executive Committee pending the appointment of a new Chief Executive and he will be supported in discharging these responsibilities by Sir Michael Rake, Deputy Chairman.

The search for a new Chief Executive will commence immediately and will consider both internal and external candidates. The businesses will continue to be managed by the existing leadership teams.

Bob Diamond said “I joined Barclays 16 years ago because I saw an opportunity to build a world class investment banking business. Since then, I have had the privilege of working with some of the most talented, client-focused and diligent people that I have ever come across. We built world class businesses together and added our own distinctive chapter to the long and proud history of Barclays. My motivation has always been to do what I believed to be in the best interests of Barclays. No decision over that period was as hard as the one that I make now to stand down as Chief Executive. The external pressure placed on Barclays has reached a level that risks damaging the franchise – I cannot let that happen.”

Diamond has nothing to lose now at tomorrow’s Treasury Select Committee appearance. He’s unlikely to go out quietly…




Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

Cameron’s closest friend in politics Steve Hilton backs Brexit:

“A decision to leave the EU is not without risk, but I believe it is the ideal and idealistic choice for our times. Taking back power from arrogant, unaccountable, hubristic elites and putting it where it belongs. In people’s hands.”

Top Posts This Week

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.

Facebook

CCHQ FREEZE MPS AND ASSOCIATIONS OUT OF VOTE SOURCE CCHQ FREEZE MPS AND ASSOCIATIONS OUT OF VOTE SOURCE
OSBORNE MISSED BORROWING TARGET BY EVEN MORE THAN PREVIOUSLY THOUGHT OSBORNE MISSED BORROWING TARGET BY EVEN MORE THAN PREVIOUSLY THOUGHT
POLICE INVESTIGATING SHADOW MINISTER OVER ELECTION EXPENSES POLICE INVESTIGATING SHADOW MINISTER OVER ELECTION EXPENSES
TOOTING BY-ELECTION CAMPAIGN KICKS OFF IN BATTERSEA TOOTING BY-ELECTION CAMPAIGN KICKS OFF IN BATTERSEA
ELECTORAL COMMISSION ON JOCK-‘COPTER CAMPAIGN ELECTORAL COMMISSION ON JOCK-‘COPTER CAMPAIGN
STURGEON DUCKS CHOPPER QUESTION STURGEON DUCKS CHOPPER QUESTION
NUS CHIEF EXECUTIVE PAID FIVE TIMES AVERAGE GRADUATE NUS CHIEF EXECUTIVE PAID FIVE TIMES AVERAGE GRADUATE
CORBYN CLAPPED COMMIE LEADER FOR REFUSING TO TOAST THE QUEEN CORBYN CLAPPED COMMIE LEADER FOR REFUSING TO TOAST THE QUEEN
SNP CHOPPER NOT DECLARED PROPERLY SNP CHOPPER NOT DECLARED PROPERLY
SADIQ RAISES EU FLAG ABOVE CITY HALL SADIQ RAISES EU FLAG ABOVE CITY HALL
SAJ ‘PRIVATELY SAID HE WANTED TO LEAVE’ SAJ ‘PRIVATELY SAID HE WANTED TO LEAVE’
CRICK CRICK’D CRICK CRICK’D
EU WANTS CULTURAL QUOTAS ON NETFLIX AND AMAZON PRIME EU WANTS CULTURAL QUOTAS ON NETFLIX AND AMAZON PRIME
LIBDEM WHO COMPLAINED TO POLICE ABOUT TORY ELECTION FRAUD BROKE SPENDING RULES LIBDEM WHO COMPLAINED TO POLICE ABOUT TORY ELECTION FRAUD BROKE SPENDING RULES
LABOUR WON’T ALLOW CONFERENCE DELEGATES TO SELF-IDENTIFY LABOUR WON’T ALLOW CONFERENCE DELEGATES TO SELF-IDENTIFY
WORST BEATLES TRIBUTE BAND EVER WORST BEATLES TRIBUTE BAND EVER
CELEBRITY CONSUMER CHAMPION HITS BACK AT BSE CELEBRITY CONSUMER CHAMPION HITS BACK AT BSE
MOMENTUM REJOICE! ONLY 65% THINK CORBYN NOT READY TO BE PM MOMENTUM REJOICE! ONLY 65% THINK CORBYN NOT READY TO BE PM
TAXPAYER FUNDED ASH LOBBIED GOVERNMENT FOR PLAIN-PACKS TAXPAYER FUNDED ASH LOBBIED GOVERNMENT FOR PLAIN-PACKS
REMAIN’S GILLIAN DUFFY MOMENT REMAIN’S GILLIAN DUFFY MOMENT
NORTHERNERS MOCK “GRIM UP NORTH” BURNHAM NORTHERNERS MOCK “GRIM UP NORTH” BURNHAM
LONG-TERM RISE OF ANTI-POLITICS LONG-TERM RISE OF ANTI-POLITICS
SUPREME COURT FINDS IN FAVOUR OF PJS SUPREME COURT FINDS IN FAVOUR OF PJS
Earth is Greener! Earth is Greener!
JUSTIN TRUDEAU ELBOWS FEMALE MP IN CANADA COMMONS FRACAS JUSTIN TRUDEAU ELBOWS FEMALE MP IN CANADA COMMONS FRACAS
GOVE TURNS HIS BACK ON MONARCHY GOVE TURNS HIS BACK ON MONARCHY
EMILY THORNBERRY’S WHITE VAN MAN STYLE OUTBURST EMILY THORNBERRY’S WHITE VAN MAN STYLE OUTBURST
13 LABOUR MPS DIDN’T DECLARE HATTIE’S PINK BUS 13 LABOUR MPS DIDN’T DECLARE HATTIE’S PINK BUS
DENNIS SKINNER ISN’T FUNNY DENNIS SKINNER ISN’T FUNNY
HARD LEFT SILENT OVER VENEZUELA CHAOS HARD LEFT SILENT OVER VENEZUELA CHAOS