Bob Diamond set to become Barclays chief executive
Bob diamond is set to become the new chief executive of Barclays Bank next year which is likely to cause more friction between the UK banking sector and the government. Bob Diamond was once described by Lord Mandelson as the unacceptable face of capitalism and has a reputed £95 million fortune which has on the whole been earned in the investment banking arena.
It is believed that the future chief executive will receive a £1.35 million salary with a £3.375 million bonus pot, something in itself which is likely to attract massive criticism from the UK political arena. While Bob Diamond may not be a recognised name across the UK he is one of the leading lights in the investment banking arena and he also incurred wrath of Vince Cable who once likened his role at Barclays Bank to one of "casino banking".
There's no doubt that Bob Diamond has a colourful career behind him in the investment banking arena but this is a man who has earned Barclays Bank significantly more money than he has taken out of the operation. This is a man who has taken chances and earned massive amounts of money by being able to spot a deal and close a sale.
Share this..
Related stories
Has Warren Buffett signalled the bottom of the market?
News that Warren Buffett has invested $5 billion in troubled US investment house Goldman Sachs has made many investors sit up and think again about the investment banking sector. Is this the bottom of the market? Has Buffett timed his investment to perfection? Or is he just trying to catch a falling knife?
Warren Buffett is a man who does his own thing, often against the trends wit...
BSkyB places 10.4% stake in ITV
As expected, BSkyB has today confirmed the placing of 404.4 million shares in ITV at a price of 48.5p each. This now brings the company's shareholding in ITV down to 7.5%, a figure which the Competition Commission is happy with, although it does crystallise a £348 million loss on the 10.4% share sale. The company has confirmed that the residual 7.5% stake will be held in the medium term for inves...
Read MoreWhen will the UK government give up control of Royal Bank of Scotland and Lloyds bank?
Despite talk just a few weeks ago that the UK government was looking towards a sale of share stakes in Lloyds bank and Royal Bank of Scotland it would appear that taxpayers will have a significant exposure some time to come. A mixture of disappointing figures and reduced liquidity in the market place appears to have placed Lloyds bank and Royal Bank of Scotland at the bottom of the recovery curve....
Read MoreCorus cuts 2500 steel jobs in dark day for industry
Steel giant Corus has today revealed plans to cut 2500 jobs from its UK operations and over 1000 jobs from its operations in Holland. While many people believe this was on the cards sometime ago, with the company looking at closing various steel plants around the world, the size of the redundancies has come as something of a surprise. However, when you consider that the worldwide economy has taken...
Read MoreBradford And Bingley Cash Call Goes To The Wire
It seems unbelievable that it is only today that we have seen the close of the Bradford and Bingley £400 million cash call - a saga which seems to have been going on for months!
The controversial cash call which was initially priced at 82p a share, only to be reduced to 55p a share, has also seen a potential US partner agree to come on board only to drop out at the last minute. In...