Martin Taylor was the chief executive of Barclays from 1994-1998. Working under him was Bob Diamond, the bank's most recent chief executive, who was forced to resign amid an interest rate scandal.
Taylor wrote an op-ed for the Financial Times detailing a huge trading loss that Barclays experienced in 1998, a trade that was from Diamond's unit. The traders who were involved in the trade were fired, and Diamond had offered to resign from the bank.
Barclays' Bob Diamond recently resigned from his position as CEO in the wake of a fine that the bank paid for reportedly manipulating LIBOR -- a key benchmark interest rate used broadly all over the world. "I love Barclays. History ... Read Post
Barclays chief executive Bob Diamond has quit over an interest rate-rigging scandal. ||| Barclays chief executive Bob Diamond quit with immediate effect on Tuesday over an interest rate-rigging scandal, becoming the highest-profile ... Read Post