Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Bob Diamond's return to banking raises investor interest

1 Comment
Bob Diamond's return to banking raises investor interest

Former Barclays chief executive Bob Diamond is set to return to the City at the head of a new African banking company, which is set to float in London.

Diamond (pictured) is raising $250 million (£153 million) for Atlas Mara, a cash shell, which is aiming to buy a controlling stake in an African financial services firm, and has already secured significant institutional backing, according to the Financial Times. Diamond is partnering with Ashish Thakkar, the founder of African conglomerate Mara Group, to launch the venture.

After leaving Barclays last July following the Libor rigging scandal, Diamond set up New York-based merchant bank Atlas Merchant Capital and the financier is understood to be keen to tap into the opportunities in Africa.

Both Atlas Merchant Capital and Mara, which has a presence in 19 African countries across a number of sectors, will take significant stakes in the shell company with the remainder of the cash coming from institutional investors.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Big City Bright Future

Big City Bright Future

Big City Bright Future, the brainchild of BlackRock, is a three-week work experience programme for school leavers looking to forge a career in the City.

Play Kames' Ennett: Trump good for US high yield, but beware Europe

Kames' Ennett: Trump good for US high yield, but beware Europe

Kames Capital’s head of high yield David Ennett believes the changing political landscape will be a positive for the US, but negative for Europe in 2017.

Play Philip Milburn: why inflation won't run out of control

Philip Milburn: why inflation won't run out of control

Kames bond fund manager views inflation as more of 'scare' than a 'problem' and is positioning his portfolios accordingly.

Read More
Your Business: Cover Star Club

Profile: change is the only constant for Quilter Cheviot

Profile: change is the only constant for Quilter Cheviot

This is not the first time we have profiled David Miller, but at the time of his previous appearance his company looked very different.

Wealth Manager on Twitter