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From Sants to del Missier: can any of these City figures replace Diamond?
Barclays has said it will hunt high and low to find a replacement for Bob Diamond, and according to odds from Paddy Power, these individuals are the most likely candidates to take up the challenge of turning the battered bank's reputation around.
Thomas L Kalaris: 12/1
Thomas Kalaris is chief of Barclays’ wealth division and has been executive chairman of the Americas since April this year. Kalaris also has experience of Barclays’ investment banking operation, having served as chief executive of Barclays Bank and Barclays Capital, USA, until 2005.
Robert Le Blanc: 14/1
Robert Le Blanc has been Barclays’ risk chief since 2004, but joined the bank two years earlier as head of risk management for Barclays Capital, its investment banking division. This is the arm of the business at the heart of the Libor rigging scandal, so Le Blanc could be just the man to turn its battered reputation around.
Rich Ricci: 8/1
Rich Ricci is chief executive of corporate and investment banking at Barclays. He has been with the bank since 1994, so has a wealth of experience when it comes to its inner workings. During his time at Barclays, and previous to his current post, Ricci was chief operating officer of corporate and investment banking and wealth management, encompassing Barclays Corporate, Barclays Capital and Barclays Wealth.
Naguib Kheraj: 16/1
Naguib Kheraj is the bank’s current vice chairman and led its failed bid for ABN Amro then later, Lazards. He left the bank briefly in 2007, when he held the role of finance director. However Kheraj was lured back so he could play a strategic role in trying to secure ABN.
Maria Ramos: 40/1
Former outstanding business woman of the year, Maria Ramos currently serves as Barclays' group chief executive of Absa Group, a subsidiary of Barclays Plc. Absa used to be known as the Amalgamated Banks of South Africa, and is the country's largest consumer bank. Barclays acquired Absa in May 2005, and today is the majority shareholder with a stake of 55.5%.
Jerry del Missier: 40/1
Jerry del Missier resigned as chief operating officer (COO) at Barclays the day before he was named the most senior rate rigger in the Libor scandal.
To many, such a sharp swing from quitting his COO post to entering the running for Barclays’ top job would seem too great, but Marcus Agius, its current chair, has already left the bank and returned in a similar and sudden twist.
Hector Sants: 14/1
Hector Sants is a well-known City figure, having served as the boss of the Financial Services Authority since 2007. Just days into his role as chief executive Sants had to deal with the meltdown in global markets and the collapse of Northern Rock, Bear Stearns, HBOS and Lehman Brothers. Many would say this experience makes him a fitting replacement for Diamond at the crisis-hit bank, but how likely Sants is to clinch Diamond’s former position is less than clear. Under the rules of his departure from the regulator, Sants agreed to six months’ gardening leave, a period not due to expire until Christmas.
Gary Hoffman: 7/2
Before joining Northern Rock as chief executive in July 2008, Gary Hoffman had served with Barclays for almost three decades and ended his career at the bank as vice chairman.
On his departure from Northern Rock some two years later, Hoffman waived his £500,000 bonus because 2,500 of the bank’s staff had lost their job.
Despite the turmoil at the nationalised lender, Hoffman was credited with boosting morale at Northern Rock in the face of extreme difficulties and with improving its business model significantly.
Blake Grossman: 40/1
Blake Grossman is the chief executive officer of Barclays Global Investors, the investment management arm of Barclays, and vice chairman, head of scientific equities at BlackRock. According to reports, Grossman has said he will leave BlackRock roughly a year after its integration of BGI.
Bill Winters: 9/4
Analysts have named Bill Winters as Diamond’s obvious replacement. Winters is the former chief executive officer of JP Morgan in Europe and after his sudden exit from the bank two years ago was linked with a string of top City roles, including a post at UBS.
Antony Jenkins: 7/4
Antony Jenkins is the clear favourite to land the role as Diamond’s successor. He currently heads Barclays’ retail and business banking division and was promoted to his current role after a shake-up of the bank in 2009, the same reshuffle that claimed Frits Seegers, whose position was handed straight to Jenkins as he left the bank.
When Jenkins took on the title of Barclays’ retail and business banking head he was responsible for around 60,000 staff globally and 38 million clients. He earned a reputation as the ‘nice guy’ of the business, and previous to joining Barclays ran the entire branded credit card business at Citi.