Barclays’ rate-fixing scandal claimed its biggest casualty so far: Chief Executive Robert E. Diamond Jr., who resigned on the eve of a new investigation into the bank’s operations by a committee of the British Parliament.
After resisting pressure to leave, Diamond resigned Tuesday and left immediately, a week after the bank announced it would pay $453 million in fines to U.S. and British authorities for its attempts to manipulate key interest rates, including the London interbank offered rate, or LIBOR.
Following Diamond out the door hours later was Jerry del Missier, appointed only last month as chief operating officer. They left only a day after Barclays Chairman Marcus Agius said he would step down as soon as a successor was named.
via Barclays CEO resigns amid rate-fixing scandal – latimes.com.
