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Bob Diamond Stumbles on Road to Redemption in African Banking

  • Shares down more than 50 percent since IPO as Africa slows
  • Investors balk at 'Wall Street' pay and absence of buybacks

Robert Diamond has had some grand ideas in his time, and this may be his grandest yet.

Diamond -- for some, a poster boy for all that went wrong at big banks -- is looking for redemption in global capitalism’s hinterland. Three years after he was pushed out as chief executive officer of Barclays Plc, Diamond is assembling a lender spanning sub-Saharan Africa.