London-based financial services firm Barclays Capital promoted Robert E. Diamond Jr. '73 to Chief Executive Officer (CEO) of Barclays Capital Tuesday, September 7. Diamond, currently the bank's president, is set to succeed the former CEO John Varley. Diamond has served as the chairman of the board of trustees since the spring of 2009.

Diamond, who will be the first American CEO of the company, has been instrumental in establishing Barclays as an international force in banking for over a decade. "When I joined Barclays in 1996, 85 percent of the business was drawn from the UK. Today, [it is] less than a third. Barclays has become one of the premier global universal banks, serving our customers and clients in over 60 countries," Diamond wrote in an email interview with The Echo.

Recently, Diamond played a crucial role in Barclays' acquisition of Lehman Brothers in 2008 following the firm's bankruptcy. This procurement helped Barclays to successfully weather the recent financial storm. "During the market turmoil of the last few years, we are one of a handful of banks [with] no government money, and was profitable in every reporting period," Diamond wrote.

Barclays has held a long tradition of successful banking practices for over 300 years. Diamond remains aware of this illustrious heritage as he leads the firm into the future. "I am honored to have been asked by the Board to lead an institution that [first] opened its doors to customers to make deposits in 1690. The history, the tradition, the strength of the institution is remarkable," he wrote.