Bob Diamond Named As CEO At BCS

Barclays Plc BCS announced on Tuesday that Robert E. Diamond Jr. would take over as its new CEO with effect from March next year. Robert, as the chief of BCS’ securities unit, assisted the bank with the acquisition of Lehman Brothers in the US. In addition to this, he has been responsible for the international and financial growth of the company in the last 10 years. From October 1, Diamond will take over as the president and deputy group chief executive. John Varley, BCS’ current CEO, is scheduled to exit on March 31 next year, after a transition plan. On being questioned by reporters on whether Diamond plans to deploy his solid investment banking experience to take the bank in a new direction, he said, "There is no change in strategy here." Diamond added, "In terms of the investment-banking background, it's clearly there, but there are a number of businesses that I've been involved with over the years.” BCS' shares fell 5.47% to $19.17 in the pre-market trading. Read more from Benzinga's Company news.