Bob Diamond Tries To Move On: 'It’s Hard For Me To Talk About It'

Iron Bob

How the mighty have fallen.

In the sparse office he now occupies in the Seagram Building in Midtown Manhattan, Robert E. Diamond Jr., the former C.E.O. of Barclays, paced in circles and tried to explain how he had gone from being one of the highest-ranking and highest-paid bankers in Britain to a guy who takes the subway to this office in exile and waits in line for his coffee at a cart on Park Avenue.

The New York Times magazine reports:

Not to suggest that times are too tough for Diamond - he’s not complaining, and he still has more money than his grandchildren’s grandchildren will ever need. But for the American investment banker who was arguably responsible more than anyone else for transforming the British finance industry, it has been a pretty spectacular fall.

'It’s hard for me to talk about it', Diamond said. 'I’ve tried to move on'.

The conventional explanation is that Diamond, 61, was ousted last July after regulators in Washington and London uncovered a 'pervasive' scheme by several banks, including Barclays, to manipulate a key interest-rate benchmark known as the Libor, or London interbank offered rate.

Hit the link below to access the complete New York Times magazine article:

Robert Diamond’s Next Life

Activist Investor Seeks Breakup of UBS

Banks Ease Capital Cost of Loans to Brokers






JefferiesAnd the Best Place to Work in the global financial markets 2018 is...

Register for HITC Business News