Bob Diamond's resignation is a victory for Ed Miliband

Once again, the Labour leader set the political pace.

Bob Diamond's resignation, announced this morning by Barclays, is a significant victory for Ed Miliband. Alone among senior politicians, the Labour leader called for the Barclays chief executive to resign the day after the Libor scandal broke (a call he repeated yesterday), with David Cameron merely stating that he had "serious questions to answer".

"It is not for prime ministers to hire and fire bank chiefs," said Cameron. "He has to make himself accountable to his shareholders and this House. He has some serious questions to answer." As in the case of the phone hacking-scandal (when he called for Rebekah Brooks's resignation and the abandonment of the BSkyB bid) and Stephen Hester's bonus, Miliband set the political pace. Even Vince Cable, who might have been expected to call for Diamond's resignation, suggested that it was up to Barclays shareholders to remove him. But in his resignation statement, it was "external pressure" (Miliband, in other words) that Diamond blamed.

One indicator of how seriously the Barclays boss took the Labour leader's opinion is that he called him last Thursday in an attempt to give his "side of the story" (as Miliband put it). Miliband was initially unsure whether to call for Diamond to go, preferring to focus on the sins of the banking system, rather than one individual, but he eventually resolved that Barclays needed new leadership. At this point, Diamond probably knew that his time was up.

Update: Miliband has responded to Diamond's resignation, stating that it was "necessary and right", while repeating his call for a juidical inquiry into the banks. Here's the statement in full:

This was necessary and right.

It was clear Bob Diamond was not the man to lead the change that Barclays needed.

But this is about more than one man.

This is about the culture and practices of the entire banking system which is why we need an independent, open, judge-led, public inquiry.

Bob Diamond resigned as chief executive of Barclays this morning. Photograph: Getty Images.

George Eaton is political editor of the New Statesman.

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New Digital Editor: Serena Kutchinsky

The New Statesman appoints Serena Kutchinsky as Digital Editor.

Serena Kutchinsky is to join the New Statesman as digital editor in September. She will lead the expansion of the New Statesman across a variety of digital platforms.

Serena has over a decade of experience working in digital media and is currently the digital editor of Newsweek Europe. Since she joined the title, traffic to the website has increased by almost 250 per cent. Previously, Serena was the digital editor of Prospect magazine and also the assistant digital editor of the Sunday Times - part of the team which launched the Sunday Times website and tablet editions.

Jason Cowley, New Statesman editor, said: “Serena joins us at a great time for the New Statesman, and, building on the excellent work of recent years, she has just the skills and experience we need to help lead the next stage of our expansion as a print-digital hybrid.”

Serena Kutchinsky said: “I am delighted to be joining the New Statesman team and to have the opportunity to drive forward its digital strategy. The website is already established as the home of free-thinking journalism online in the UK and I look forward to leading our expansion and growing the global readership of this historic title.

In June, the New Statesman website recorded record traffic figures when more than four million unique users read more than 27 million pages. The circulation of the weekly magazine is growing steadily and now stands at 33,400, the highest it has been since the early 1980s.