Barclays CEO Robert Diamond Resigns

by Staff Writer on July 3, 2012

The scandal involving efforts to manipulate a key interest rate continued to tear through the top ranks of Barclays BARC.LN -0.80% PLC, as its chief executive and chief operating officer resigned a day after its chairman said he would step down.

CEO Robert Diamond resigned Tuesday amid intense political and investor pressure over the British bank’s involvement in rigging the benchmark, used to set interest rates on an estimated $800 trillion of borrowings and derivatives. Jerry del Missier, who was named chief operating officer last month, also stepped down.

Read Full Article At WSJ.

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