Bob Diamond Was ‘Paranoid’ About Possible Barclays U.K. Takeover
- Evidence of 2008 panic at Barclays emerges in fraud trial
- Ex-CEO John Varley was ‘scared to death’ of government bailout
Richard Boath.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
A U.K. fraud trial of former top Barclays Plc executives highlighted the fears faced by elite bankers as they grappled with a possible government takeover and what that meant for their careers.
In October 2008, former Barclays Middle East head Roger Jenkins, one of four defendants in the trial, described then-Chief Executive Officer John Varley and former investment bank head Bob Diamond’s panic to a colleague in a portion of a phone call that was read to jurors in London Monday.