Bob Diamond, Barclays’ former chief executive, suffered another bruising yesterday, as regulators lambasted his “misleading” behaviour and his former chief operating officer directly contradicted his account of the Libor-rigging scandal.
Laying bare the extent of Mr Diamond’s recent conflict with regulators, Andrew Bailey, the chief banking regulator of the Financial Services Authority, told a British parliamentary committee that the US banker’s earlier testimony to MPs had been “highly selective”.
“I don’t think what Mr Diamond said [to MPs] in any way reflects the severity of the issue . . . of the point we were making,” Mr Bailey said.
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