Barclays chairman takes onus for Libor scandal, calls it quits
Barclays chairman Marcus Agius quit on Monday after the interest rate rigging scandal. Agius, said that it was a devastating blow to the reputation of the bank.
Barclays Chairman Marcus Agius quit on Monday and said an interest rate rigging scandal had dealt "a devastating blow" to the bank's reputation and "the buck stops with me".
Agius, chairman at Barclays for over five years, will stay in his position until a succession plan is assured.
[caption id="attachment_363902" align="alignleft" width="380" caption="Pressure built on CEO Bob Diamond to quit following a $453 million fine for Barclays by British and US regulators. Reuters"]
[/caption]
Pressure has built on him and CEO Bob Diamond to quit following a $453 million fine for Barclays by British and US regulators last week for submitting inaccurate submissions on the Libor interest rate.
"Last week's events- evidencing as they do unacceptable standards of behaviour within the bank -have dealt a devastating blow to Barclays reputation and the buck stops with me and I must acknowledge responsibility by standing aside," he said in a statement.
Reuters
US jobless claims fall to 187,000, signalling resilient labour market ahead of Fed meeting
NDTA asks Connaught Place shops, offices and restaurants to close by 6:30 pm today
EU slaps Google with $1 billion antitrust fine over Play Store and Search practices
Brent crude flirts with $100, reigniting inflation and forex concerns for India
Can a record May offset a shrunk international schedule and help IndiGo turn a profit?