Diamond Resignation: Reaction
THE EVENT: In a shock move Tuesday, Barclays PLC Chief Executive Bob Diamond caved in to intense pressure to quit after the U.K. bank became embroiled in a bitter political row over its role in the Libor rate-rigging scandal.
“The external pressure placed on Barclays has reached a level that risks damaging the franchise — I cannot let that happen,” Mr. Diamond said.
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