Barclays Chief Executive Officer and Chief Operating Officer have both announced their intentions to quit.
(Canadian Press) Barclays Chief Executive Officer Bob Diamond and the bank's Chief Operating Officer, Jerry del Missier, have both quit their jobs following a financial markets scandal that has also seen the bank's Chairman announce his intention to resign.
The bank said Tuesday that Chairman Marcus Agius would lead the search for a successor to Diamond, who has resigned with immediate effect. Agius still intends to stand down once a new chairman has been chosen, a spokesperson at Barclays said.
Del Missier, a Canadian, was appointed Chief Operating Officer just two weeks ago to lead a restructuring at Barclays.
Documents released by Barclays bank say that del Missier was responsible for ordering others to report lower than actual borrowing rates.
The bank released a memo by Diamond recounting a conversation with a Bank of England official. Barclays said Diamond discussed the call with del Missier, who wrongly concluded that the Bank of England had instructed Barclays to keep its submissions lower.