By Ruth Sunderland
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Happy man: Barclays boss Bob Diamond plans to restore trust
Bob Diamond, chief executive of Barclays, has launched a new ‘Citizenship Plan’ as part of a drive to restore trust and burnish his bank’s dented image â€" but offered no blueprint for reforming pay.
The three-year plan, unveiled at the bank’s Canary Wharf headquarters, aims to support local communities, contribute to economic growth and improve integrity and service to customers.
Under the plan, Barclays has made commitments to lend at least £150bn to households and to provide at least £50bn to small and medium-sized firms.
The bank also plans to boost apprenticeship and work experience programmes to help young unemployed people start careers. Outside o f the UK it is helping micro-entrepreneurs in Africa.
It has also made a commitment to draw up plans that would allow Barclays to fail without bringing down the financial system. Diamond said: ‘Taxpayers’ money should never again be put at risk. Ever.’
Campaigners dismissed the initiative as ‘cynical PR’ and ‘frankly insulting’ to ordinary people bearing the brunt of the financial crisis.
Danni Paffard, spokesman for Move Your Money UK, said: ‘Barclays is very proud of the £55m it gave out in grants in 2010 but that pales into insignificance when compared to the £2.6bn it handed out in bonuses the same year.’
Diamond said: ‘We recognise the scepticism and cynicism. Levels of pay continue to be causes of concern. But we believe banks have a critical role in putting things right as the private sector must take on the role of boosting economic growth.’
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The clue is in his name!
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LOL - He must have learned the failed Tesco trick, lie about everything to create trust and value, while milking you to death in order to make his bonus even bigger, the problem with these guys is, all they needed is just a few years, no soon they grab a huge bonus, they just move on and pass the buck onto the next guy, and the cycle starts again.
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Diamond said: ‘We recognise the scepticism and cynicism. NO YOU DONT DIAMOND, YOU DONT HAVE A CLUE FRANKLY
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