Banks 'must contribute more to society', says Barclays CEO

4 November 2011

Banks need to win back the trust of the UK public by playing a major role in the country's economic revival.

That is the opinion of Bob Diamond, chief executive of Barclays, who has insisted that financiers can be a driving force in the recovery following the recession, but they must first go through a process of proving themselves to the public.

In an interview with the BBC Today programme, Mr Diamond - who joined Barclays in 1996 - indicated that lenders need to apologise for the errors they made in the lead up to the crisis and make it clear they can make a positive contribution to society.

Indeed, he noted that further protests such as those seen at St Paul's Cathedral could occur unless action is taken.

"The threat of further social unrest remains if we don't work together to generate stronger economic growth and more jobs," Mr Diamond noted.

By Tony Aynsley

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