July 17th, 2012
06:17 PM GMT
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London (CNN) – The links between Barclays former chief executive Bob Diamond and the Bank of England’s deputy governor Paul Tucker - central to the Libor rates-rigging inquiry - was further spotlighted Tuesday with the release of email correspondence showing the duo’s chatty relationship with each other.

Tucker, whose promotion to his current role was announced on 10 December 2008, received an email the next day from Diamond.

Diamond’s email says: "Paul, Congratulations Well done, man. I am really, really proud of you. Talk soon. Bob." In reply Tucker writes: "Thanks so much Bob. You've been an absolute brick through this. Paul."

The emails were released in response to a request from Labour MP John Mann, who is on the Treasury Select Committee grilling banking executives on the Libor rates-rigging scandal which cost Diamond his job as Barclays chief executive.

Read: Letter to MP John Mann (PDF document)

A conversation between Tucker and Diamond - notes of which were released by Barclays - has become central to the investigation.

The notes suggest the Bank of England leaned on Barclays to lower its Libor rates submissions. Executives including Tucker, Diamond and his former right hand man Jerry del Missier have all given their differing versions of the call.

Email trail (PDF document)

The furore could derail Tucker's previously expected elevation to be next Bank of England governor.

Clarity around the meaning of the phone call remains elusive. But one thing is perhaps more obvious: Back-slapping and "absolute brick" references between these two apparent one-time buddies are likely a thing of the past.

Filed under: Business


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