Bob Diamond ditches Barclays Wealth as his charity’s bankers
Former Barclays boss Bob Diamond has hired State Street as the banker for his charitable foundation, its annual report shows.
The Diamond Family Foundation used to use Barclays Wealth as its bankers, alongside PwC as its auditors. But its latest financial report shows that Diamond’s charitable unit picked US bank State Street instead for the year ending 31 March 2014.
In the previous financial year – from 1 April 2012 to 31 March 2013 – Diamond was still the chief executive of Barclays, and the charity still used the bank.
Diamond’s spokesman was unavailable to comment.
The Foundation spent $613,376 (£393,000) on charitable activities in the year, down from $726,269 in the previous 12 months.
The biggest recipient was Colby College, taking $164,694, followed by Grassroot Soccer, which was given $120,000.