Quote of the week

"[People] don’t expect retirement to begin with social security and sit on the back deck in a lounge chair for the rest of their lives. This group really wants to remain active."

Jeff Cimini, head of personal retirement at Merrill Lynch

Weekly Poll

View previous poll results

Bob Diamond has resigned as chief executive of Barclays, the UK-listed bank announced today, in the wake of a LIBOR-rigging scandal that has rocked the financial industry.

“Barclays today announces the resignation of Bob Diamond as chief executive and a director of Barclays with immediate effect,” the bank said in a statement issued to the London Stock Exchange.

Shares in Barclays were up 1.43 per cent today at 171.3 pence.

Marcus Agius, who has also announced his intention to resign as chairman, will lead the search for a new CEO, the statement said.

The search for a new CEO will examine both internal and external candidates.

• Tweet

• Request reprint rights
• Send to a colleague
• Print (subject to copyright)