Bloomberg News

Barclays Says Del Missier Follows Boss Diamond in Resigning

July 03, 2012

Former Barclays Chief Operating Officer Jerry del Missier

Former Barclays Chief Operating Officer Jerry del Missier resigned today with immediate effect. Photographer: Peter Foley/Bloomberg

Barclays Plc (BARC) said Jerry del Missier, the bank’s newly appointed chief operating officer and 15-year veteran, resigned.

Del Missier, 50, who took the job on June 22 after being co-head of the bank’s investment banking unit with Ricci Rich, leaves on the same day as his boss, Chief Executive Officer Robert Diamond, the London-based bank said in a statement today.

Barclays was hit by a record 290 million-pound ($455 million) fine last week for rigging the benchmark interest rate for more than $360 trillion of securities. Diamond yesterday defied pressure to quit, pledging to implement the findings of a review into how the bank sets the London interbank offered rate. U.K. regulators are weighing whether to start a criminal probe into Libor fixing.

“His many contributions to the firm were critical to why Barclays was able to weather the extreme market turbulence of the credit crisis as well as we did,” Chairman Marcus Agius said in the statement.

To contact the reporter on this story: Howard Mustoe in London at hmustoe@bloomberg.net

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net


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