Bob Diamond, Barclays’ chief executive, has given a surprisingly warm welcome to the Vickers Commission report in the first public response from a UK bank chief executive to the proposed industry revamp.
In comments that reformers will see as proof that bankers succeeded in diluting the commission’s recommendations, Mr Diamond said the report represented “a welcome step towards the greater clarity that banks need to be able to operate with confidence”. The publication meant that “a cloud has been lifted” from the regulatory landscape, he said later.
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