Why did it take Bob Diamond so long to go? In every organisation I have woked for it has been the Chief Executive who has publically set the cultural norms for the business. In Barclays it is clear that there was some sort of cultural problem - even if only in the investment banking part. Mr Diamond headed up that function before he became CEO. So - he had to go. It is worrying that the board appeared to want him to remain at the helm. Are these people living in such a rarified atmosphere that they simply do not understand? I also wonder about the head of Internal Audit and his/her team. What were they doing?
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