Is Bob Diamond his own best friend? Barclays’ president personally picks up $36m from the sale of investment manager Barclays Global Investors to BlackRock.

The bank maintains an elaborate governance arrangement prevented any conflict of interest: Mr Diamond was consulted by the Barclays board on the sale of BGI but did not vote. Whatever. Selling BGI was a quick way for Barclays, the sector’s tail-end Charlie, to boost its capital ratios.