Results tagged “Bob Diamond”

Barclays Bank has reiterated its commitment to lending in the UK after announcing pre-tax profits of £5billion for first nine months of this year.

The Canary Wharf-based bank saw its profits rise by 18 per cent on the same period last year, while profits for the quarter were up to £2.4billion.

Barclays boss Bob Diamond is in the centre of a security row today after he claims he landed the plane bringing Prime Minister David Cameron's back from Africa.

Bob Diamond, chief executive of Wharf bank Barclays, faced a grilling by members of the Treasury Select Committee on Tuesday, where he was questioned for more than two hours on issues including bonuses.

He refused to make promises to forgo his own bonus, which could be in the region of £8million.

Barclays chief executive designate Bob Diamond will officially take up his role on New Year's Day - three months earlier than originally planned.

The bank announced this morning that Mr Diamond will succeed outgoing chief executive John Varley on January 1 after all transition activities were successfully completed.

Bob Diamond is to take over as group chief executive of Barclays from next March.

Mr Diamond, who is currently chief executive of Barclays Capital - the bank's investment arm - will replace John Varley from March 31. He will become president and deputy group chief executive from October 1.

Barclays recorded a big jump in profits last year despite the recession.

The bank posted a year-end profit of £11.6billion before tax, an increase of 92 per cent on its 2008 figure. Most of that came from the £6.3billion sale of Barclays Global Investors and a strong performance from investment arm Barclays Capital.

Corporate giving could be making a comeback after Barclays pledged its support for Boris Johnson's Fund for London morning.

The Wharf-based bank promised a £1million donation over four years for the Mayor's Fund, a charitable initiative to help improve the lives of underprivileged children in east London.