Bob Diamond snaps up stake in New York trading outfit South Street
Former bank chief turned investor Bob Diamond has snapped up a stake in New York-based repo-trading outfit South Street Securities, diversifying his portfolio since his exit from Barclays three years ago.
Diamond, who was pressured to bow out of Barclays in the wake of the Libor scandal, has been actively engaged in his emerging markets banking enterprise Atlas Mara.
He has previously hinted at an interest in tapping into the “huge amount” of businesses big banks are shedding. Atlas Mara completed its initial public offering on the London Stock Exchange (IPO) in December 2013.
Diamond is one of eight directors on the South Street Securities board, headed by chief executive James M Tabacchi.
South Street Securities and Atlas Mara were contacted for comments but did not respond by press time.