Barclays’ Ricci Won’t Replace Diamond, Telegraph Reports

Rich Ricci, the head of Barclays Plc’s investment bank, won’t seek to replace Robert Diamond as the bank’s chief executive officer, the Sunday Telegraph reported, citing people it didn’t identify.

Ricci doesn’t want the job and will focus on measures aimed at reviving the investment bank’s reputation, the newspaper said.

Naguib Kheraj, a former Barclays chief financial officer who’s currently a senior adviser to the bank, is the only internal candidate as Anthony Jenkins and Tom Kalaris are believed to be too inexperienced, the newspaper said.

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