[ by Melanie Gretchen ]

Barclays is no longer the bank of Bob Diamond.  This week, the last of the former CEO's management team are departing the firm, accused of manipulating Libor, costing the firm $453 million in settlement fees and its CEO his job.

Rich Ricci and Tom Kalaris served under Mr. Diamond as the head of the bank's investment banking group and head of wealth management division, respectively.  Apparently the bank's efforts to distance itself from the former CEO are working: both Mr. Ricci and Mr. Kalaris are leaving within 6 months of the promotion of Antony Jenkins, Mr. Diamond's replacement.

The End of an Era. The departures follow those of Mr. Diamond and Jerry del Missier, the former chief operating officer, who resigned after the Libor settlement.  In the banking world, Mr. Diamond, Mr. Ricci and Mr. del Missier were known as the "3 musketeers."

Among the public, Mr. Ricci aroused anger over his pay package and recreational activities.  Recently, he cashed in 5.7 million deferred shares as part of his bonus from 2009 to 2011 for $26 million.  His love of horse racing became distinguished by his racehorse, "Fat Cat in the Hat."

Mr. Kalaris is to retire as head of its wealth and investment management division and executive chairman of Barlcays in the Americas on June 30. Peter Horrell, the head of the bank’s intermediaries, international and direct businesses, will take over as interim CEO of the wealth and investment management unit. Barclays is still reviewing its wealth management business and how it will fit with other operations.

Changing the Guard. Going forward, Mr. Jenkins is set on changing Barclays culture.  To this end, he has made a number of executive changes, including removing one layer of management at the investment bank.  Going forward, here are some of Barclays's new faces to watch:

• Skip McGee, a former Lehman Brothers banker, as CEO of Barclays Americas as of May 1.  Mr. McGee, who served as (i) global head of investment banking and (ii) head of Barclays’ corporate and investment banking in the Americas could further the integration of Lehman’s North American investment banking business, bought in 2008.
• Eric Bommensath, the head of markets at Barclays, and Tom King, chief of the firm’s investment banking division, will become co-CEOs of the corporate and investment banking division on 5/1.  In their new roles, they will join the bank’s executive committee and report directly to Mr. Jenkins
• The new CFO, yet to be named, to succeed Christopher Lucas who in February announced he is set to retire once his replacement is found.

"Since I became group chief executive, a major area of focus for me has been to streamline and improve how the bank is managed, while strengthening control.  The “changes are the next step in that journey." -- Mr. Jenkins, in a statement.

For further details, go to [Dealbook, 4/18/13].