MPs pile pressure on Diamond to forfeit bonus

Members of Parliament have called on Bob Diamond to give up his payout from Barclays following the LIBOR scandal that has engulfed his former bank.

The ex-chief executive was addressing the Treasury Select Committee today on the bank’s manipulation of interbank lending rates. Asked whether Diamond would forfeit his payout in view of the reputational damage caused to the bank on his watch, the former CEO said it was "a matter for the board". Diamond is understood to be in line for as much as £18m from the bank. Labour MP John Mann challenged Diamond on whether he would waive his payout, urging him to "take the moral high ground". Mann said the loss of his share package would be a "small price to pay" for Diamond given the impac...