This undated file photo made available by Barclays Bank Monday July 2, 2012 shows the Chairman of United Kingdom-based Barclays bank Marcus Agius in London. The chairman of Barclays announced his resignation Monday July 2, 2012 after accepting responsibility for a price-fixing scandal that saw the bank slapped with trans-Atlantic fines of $453 million. Last week, U.S. and British agencies imposed the fines on Barclays for submitting false data on interbank borrowing rates between 2005 and 2009. The bank’s executives have been under fire since then and the calls are growing for chief executive Bob Diamond to quit too. (AP Photo/Barclays Bank/VisualMedia, HO)ROBERT BARR
LONDON (AP) – The chairman of Barclays announced his resignation Monday after accepting responsibility for a price-fixing scandal that saw the bank slapped with trans-Atlantic fines of $453 million.
Last week, U.S. and British agencies imposed the fines on Barclays for submitting false data on interbank borrowing rates between 2005 and 2009. The bank’s executives have been under fire since then and the calls are growing for chief executive Bob Diamond to quit too.
“As chairman, I am the ultimate guardian of the bank’s reputation,” said Marcus Agius, who had led the board since 2007. “Accordingly, the buck stops with me and I must acknowledge responsibility by standing aside.”
Agius also submitted his resignation as chairman of the British Bankers Association, the trade body that helps calculate the interbank borrowing rates.