The resignation of Barclays' (BARC.LN) chief executive Bob Diamond is a surprise says Oriel Securities. Says the resignation leaves a key management gap and another major uncertainty over the investment case. Notes the CEO will still attend the Treasury Select Committee hearing Wednesday. Thinks his resignation is likely to make him less inclined to hold back on speaking out about potential FSA or Bank of England failures associated with historic Libor rate manipulation. Has a hold rating and 200p target. Barclays +1.5% at 171p.
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