The deals mark a return to the spotlight for Diamond, the high-profile American banker who was ousted from Barclays in 2017 after the bank was fined $450 million for rigging Libor interest rates.
Barclays was the first bank fined for interest rate manipulation, but since then UBS, Royal Bank of Scotland and Rabobank have been handed bigger fines and other banks have been fined for rigging Euribor rates.
Diamond built up Barclays’ investment bank into a global power over more than a decade, but since he left it became clear he had a poor relationship with regulators who said he had “sailed too close to the wind” after taking over as group chief executive at the start of 2011.
- Diamond poaches Barclays exec to run Africa bank venture, Apr 8, 2017, Reuters.
About the author:
Zhang Xin is Trainer at chinadaily.com.cn. He has been with China Daily since 1988, when he graduated from Beijing Foreign Studies University. Write him at: zhangxin@chinadaily.com.cn, or raise a question for potential use in a future column.
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