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Libor scandal

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Barclays PLC has informed that its retain and business banking head Anthony Jenkins, 51, was appointed as the group’s new CEO as company’s shares fell following news regarding an investigation into bank’s overseas investment deal. Anthony Jenkins will replace Robert Diamond who resigned in July after a rate rigging scandal (the Libor scandal) was made public. Anthony Jenkins, the new CEO at Barclays, has been given a mandate to launch a root and branch review.

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Stephen Hester, the chief executive of the Royal Bank of Scotland, has warned that the bank is facing a huge fine over the Libor scandal which also affected Barclays. It will be a further hit to the bank’s reputation. According to Stephen Hester, the anger against bankers is raising because of the Libor scandal.

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