End of an era as last of Diamond's men quit Barclays

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End of an era as last of Diamond’s men quit Barclays

End of an era as last of Diamond’s men quit Barclays
Rich Ricci and Tom Kalaris, the two remaining senior executives at Barclays most associated with the tenure of former boss Bob Diamond, have left the bank as his successor Antony Jenkins continues his attempt to change the bank’s culture. Their departure is part of Mr Jenkins’ desire to reshape the bank following the Libor scandal.
The Daily Telegraph Business, p. 1
Also appeared in : City AM London, p.4, City AM London, p.1, Daily Express, p.66, The Times, p.45, City AM London, p.4, Metro London, p.21, Independent i, p.11, Independent i, p.2, Financial Times Companies and Markets, p.16, International Herald Tribune, p.1

Former regulator quits RBS bidders
The former head of the Financial Services Authority, John Tiner, has stepped down from a consortium that is bidding for 316 bank branches owned by Royal Bank of Scotland. Mr Tiner was the authority’s chief executive from 2003 until 2007, and had been fronting a bid from investors including Lord Rothschild’s investment vehicle RIT Capital and private-equity groups Corsair and Centerbridge.
The Daily Telegraph Business, p. 1
Also appeared in : The Times, p.44, City AM London, p.6, Daily Mail, p.66, Financial Times Companies and Markets, p.21

UK is a crisis country, says next Bank governor
Mark Carney, speaking in Washington yesterday, has claimed that the UK has a “crisis” economy, the lowest of three categories that he claimed fit all countries in the world. He also advocated the practice of central banks helping to stabilise economies through the use of interest rates and other less conventional tools, but said monetary policy could not function as the sole plank of economic strategy.
The Guardian, p. 26
Also appeared in : The Times, p.45, The Sun, p.2, The Daily Telegraph Business, p.1

Rethink your austerity plan, IMF chief tells Osborne
The head of the International Monetary Fund, Christine Lagarde, claimed that the state of the UK economy meant she was forced to call on George Osborne to come up with a new economic strategy.
The Guardian, p. 1-2
Also appeared in : International Herald Tribune, p.17

Sir Mervyn’s warning for his successor
In a little-noticed speech in Washington this week, Sir Mervyn King reflected on the monetary policymaking scene, writes Ben Chu. “There is a risk of appearing to promise too much or allowing too much to be expected of us,” he warned an IMF conference. “With constraints on other policy instruments, central banks are seen as ‘the only game in town’.
The Independent, p. 53

Trade bodies urge G20 to fight EU transactions tax
Five global markets associations have written to G20 finance ministers urging them to intervene in Europe’s plans to impose a financial transactions tax. The controversial tax, which would impose a 0.1pc levy on the value of financial transactions and 0.01pc on derivatives, was first proposed in September 2011. Britain has led opposition from the start, warning that the tax would be unworkable and harm the City.
The Daily Telegraph Business, p. 5

Osborne and IMF square up on austerity
George Osborne plans to defend his policies “aggressively” when an IMF team comes to London.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 1

The above articles appeared on 19/04/13 reproduced with the kind permission of Kantar Media UK. All rights reserved.

Charterbridge Private Financial Planning, Independent Financial Advice, Thornbury, Bristol.