Bob Diamond refuses to quit as Barclay’s chief after resignation of chairman over Libor interest rate fiddle,” ’I am disappointed it happened on my watch and I’ll stop it happening again”.
Marcus Agius, Barclay’s ex-chairman said,”Bob Diamond voluntarily gives up on a bonus of £20m sterling any deferred consideration and any deferred bonuses to which he would otherwise have been entitled.”
However, Mr Diamond will get up to a year’s salary, pension allowance and benefits believed to be worth £1m to £2m.
Last week, Diamond told MPs he had spoken in October 2008 to Mr Tucker, who had expressed concerns about the high level of Libor – the rate at which banks lend to one another and which is the basis for millions of daily financial transactions – being submitted by Barclays.
Earlier this month Chairman Barclays Marcus Agius and Labor leader Ed Miliband who allegedly resigned over Libor rate scandal, calls on chief executive Bob Diamond to resign too.
Barclay’s chief executive Bob Diamond disregardfully refused to quit today but admitted he was ‘disappointed’ that the Libor interest rate fixing scandal took place while he was in charge.
Whereas Marcus Agius Chairman Barclay’s who resigned earlier but is now staying to find Diamond’s successor, is presenting before MP’s over the Libor rate scandal.