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Is Bob Diamond the latest in a long line of investment bankers taking control?

Once you strip away the current fury regarding the appointment of Bob Diamond as the next chief executive of Barclays Bank there is certainly a new trend in the UK, and indeed worldwide, banking arena. More and more banks are now being led by investment bankers, which is leading to growing concerns regarding the attitude to risk amongst the general financial services industry.

There is no doubt that investment banking is perceived to be more risky than retail banking although in reality it is the ability to weigh up the risk/reward ratio which is the key to a successful investment bank in operation. So whether the introduction of figures such as Bob Diamond will indeed increase the risk profile of companies such as Barclays Bank, including their retail operations, is a matter for debate but at this moment in time Bob Diamond is effectively the new Sir Fred Goodwin and current public enemy number one.

If you also look back historically with regards to the UK government you also see a very close relationship between governments of the past and the banking community. Indeed governments have often depended upon the banking arena for feedback on economic prospects and tax changes for the future - this will never change.

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