Barclays CEO: 'No jerks' rule at bank
LONDON—Barclays Chief Executive Bob Diamond says he has imposed a "no jerks" rule for the U.K. bank.
In an interview with The Times newspaper, Diamond says the rule applies to bankers considered to be prima donnas, too greedy, too ostentatious or failures as team players.
Saturday's newspaper quoted him as saying that between 30 and 40 Barclays employees have been encouraged to find other jobs for violating the standard.
Diamond said it doesn't matter how good they are as bankers if they "can't behave with their colleagues." He cited an infamous 2002 episode during which six Barclays bankers ran up a 44,000 pound ($68,940) alcohol tab at a London restaurant as embarrassing and "the no jerk rule personified."
The CEO has been criticized himself for his lavish pay, earning 6.75 million pounds last year.