Former Barclays CEO Bob Diamond could gain millions from new African investment venture

Bob Diamond, Co-Founder, Atlas Mara & Former CEO, Barclays

Bob Diamond, ousted as boss of Barclays last year after the Libor-rigging scandal, potentially stands to reap millions of pounds from a new stock market venture set up to acquire financial services companies in Africa.

The US banker, often criticised for the level of his pay during his 15 years at Barclays, has become a nonexecutive director of a cash shell that has raised £200m from a stock market listing in London, although registered in the British Virgin Islands.

Along with his co-founder, Ashish Thakkar – a British national now based in Dubai – Diamond has special “founder-preferred shares” in the new vehicle, known as Atlas Mara Co-Nvest, which give the pair payouts if the share price rises above a certain level.

Read more: Bob Diamond could gain millions from new African investment venture | Business | The Guardian.

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