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Boris: Bank chief will be one of my City Hall aides
Pippa Crerar, Political Correspondent15.04.08
Boris Johnson today named Barclays Capital boss Bob Diamond as one of his key advisers for City Hall.
The City's best-known banker would help him set up and run the multimillion pound Mayor's Fund, which will give money to some of the poorest Londoners.
The announcement came as a boost to Mr Johnson, who has been under intense pressure to reveal who will advise him if he wins the mayoral election. The Tory candidate has faced regular charges of incompetence and the recruitment of such a heavyweight figure will provide welcome relief.
It comes as Ken Livingstone told a Reuters hustings that the London mayoral election would not be a referendum on Gordon Brown.
Mr Johnson told the audience: "The Mayor's Fund for London will be a streamlined vehicle for getting money from the wealth creating sector to communities across London that are facing hardship and deprivation, and are the victims of crime.
"Many people in the City of London are very interested in this idea and one man who's going to help is Bob Diamond at Barclays Bank, but there are many others who are going to come forward in the next few weeks who are going to show their support."
American Mr Diamond earned £6.8 million in salary and bonuses last year. However, his total package was more than £21million as he collected a further £11.4million from an executive share award scheme and £3million from a share performance scheme.
The Barclays Capital chief is known for his sportsman-like leadership style, running his business as a meritocracy.
He is also an avid fan supporting the Boston Red Sox in baseball, Chelsea, the New England Patriots in American football, and the Celtics in basketball.
Mr Diamond is not registered as a donor to the Conservative Party nor has he publicly aired his political views.
A spokeswoman for Mr Johnson confirmed Mr Diamond would be working in a voluntary capacity. Meanwhile, Mr Livingstone claimed the outcome of the mayoral contest would have no impact on the national political picture. He said Gordon Brown and Tory leader David Cameron would be taking "an identical position" on the final results. "If this was a referendum on government this would be a very difficult election," he said.
"I'd be well behind in the polls - all the polls show it's neck and neck. I don't think there will be any great significance for national politics from what happens in this city on 1 May." But Lib-Dem candidate Brian Paddick said the election would "quite clearly" be a referendum on the state of the national parties. "We've got new leaders in two of the three major parties, you've got Gordon Brown as the new leader of the Labour Party, this is going to be the first major test of him as leader." He added: "You have to ask, with Gordon Brown being photographed with Ken Livingstone, is this an asset or a liability? With David Cameron saying Boris is his own man, that is political speak for he's got nothing to do with me."
All three candidates denied the race had become a personality contest and set out their policies for the mainly business audience.
Mr Livingstone has said he will re-appoint Peter Hendy as Transport Commissioner, and Tim O'Toole as managing director of London Underground if he is re-elected. He said: "This is a team with a totally proven record of delivery for London - and Londoners know I can deliver for London from the last eight years."
Reader views (15)
Success is one thing, but the rewards don't easily trickle down. In a time of crisis for a lot of his workers, how can he justify making disproportionately more money than he did last year.
Mr Diamond's appointment will have very limited appeal to anyone but the upper crust of London.
- Rob,, London
Marvellous.
Appointing one of the architects of the credit crunch is just what London needs right now.
- Dave, London
If the City wishes to help the man/woman in the street - then don't cut off lines of credit. There is something rather nauseous about banks asking us, the taxpayer, to bail out their non-performing loans then the bosses of said banks - Mr Diamond for example, offering to give us back some of our own money as a charitable donation. If we are poorer in the months and years ahead, it'll be because of the foolish investing practices of poorly regulated banks that are now offering to throw us some crumbs from their table.
- Tony Mcmahon, London, UK
Keep it up Boris, let's kick red-Ken in to touch.
- C Brennan, London, England
Let's see now, world food shortages, rising costs, a house value crash looming, peak oil forcing higher fuel prices, climate change (oh, be sure it’s happening. If you don't think so, find out for yourself - the media won't tell you) and an Olympics that will be late and cause world-wide embarrassment.
But fear not! Boris will sort it all out with his cloak of stupidity...
Get real Londoners, whoever wins will be in for a rocky ride as the good times are disappearing for the majority of us, as a massive debt crisis causes misery and hunger for millions in the years ahead. Credit Crunch? Mmm, sounds tasty, if it weren’t so serious.
Oh, and no doubt Ken has arranged it so all current contracts on a variety of things cannot be altered without massive fines for years to come, so don’t go expecting big changes if the administration does change colour at City Hall. Ah, the disappointment the foolish voters will feel when nothing is different - as they irrationally hoped - just worse.
In a Hooray-Henry food fight, anyone would want Boris on their side; but in a world heading for recession, it don't make any difference who's in charge as they eventually order the police and army to defend vital food and fuel supplies for the high and mighty while the rest of us starve....
40,000 city jobs under threat? That’s just for starters. You can’t trade commodities if the stuff ain’t there to trade…. Rice anyone?
- Donald Lyven, Finchley, London
So instead of getting rich people to pay their taxes, Boris will go with a cap in hand begging bowl instead? All managed away from Boris for fear he will screw it up?
Hardly a ringing endorsement of his capabilities or his intellect.
- Martin Michaels, Marylebone, London
Is "Darren, London" accusing Boris of cronyism, simply for having an adviser?
Does he think that any Mayoral candidate would run London on their own?
Meanwhile, Ken has reappointed Peter Hendy, the guy who's supposed to be neutral but has criticised Boris in the past.
Now that's real cronyism...
- Robert Cunningham, Harrow, London, UK
Darren - I think you'll find if you read the article again that Bob Diamond is doing this voluntarily - which means he won't get paid. Which means less waste. Which means Boris is better than Ken. Vote Boris!
- Lou, Camberwell
The idea of Boris winning the election makes me sick. It doesn't matter what anyone says he's a complete idiot and would be incapable of running a capital city.
- Lucy, London, UK
"So much for cutting waste. The first of Boris's cronies?
- Darren, London"
"A spokeswoman for Mr Johnson confirmed Mr Diamond would be working in a voluntary capacity."
Try reading the whole article instead of just jumping to conclusions.
This should, I imagine, end Team Livingstone's relentless assertions that their man, and only their man, is capable of running London. Which, might I add, I always considered to be an odd thing to claim, given that we coped so well for so long without a mayor...perhaps they mean that nobody can meddle and impose their archaic, communist beliefs on this city like Livingstone can?
- St, London
So much for cutting waste. The first of Boris's cronies?
- Darren, London
I think Boris is doing and will do very well. This magnificent win proves that London could be on the right track again financially. I also think that London can be a fun place again.
- Georgie, Islington, London
The problem is voters don't know anything different than Ken but anyone could do a better job than him he wastes money like he's in Las Vegas. We have 20mph roads to come the mega mosque and all paid for by the hard working London tax payer, vote him out.
- Dave Angel, London
Yes it's important who is running with Boris, but let's face it, as long as it's not criminals like Lee Jasper or drunks like Bob Kylie, who cares?
- Nobby Clark, Perth, UK
Fantastic. Bob Diamond has done absolutely amazing things for Barclays and that experience will help make London a better place. It is exactly the route that Boris should be going down - not like Ken has done, just appointing some of his mates from the past. Go Boris!
- Lou, Camberwell, London
