After what just happened to Chris Lucas, who'd be a banker?

Banker bashing is our new national sport.

Another week, another banker is on the podium. This week it’s the former Barclays’ finance director, Chris Lucas, who has just announced his retirement having joined the Bank in pre-recession in 2007.

Suddenly a flurry of questions surrounds him: Was he involved in the Libor scandal that forced his boss, Bob Diamond, to go?  Perhaps the current investigation into a suspicious loan to Qatar has something to do with it? Did Lucas leave on his own account or was there a gentle nudge by those seeking to clear out the Barclays "old guard"? (Mark Harding, Barclays Group General Counsel also announced his retirement having joined in 2003.) 

We simply don’t know yet. But so far all clues look innocent: apparently Lucas wanted to go two years ago, citing health reasons. He even waived his 2012 bonus because of the Libor scandal and insiders consider it unlikely he will part with a "golden handshake".

So why the tirade of questions? Is the retirement of a finance director really that interesting or perhaps banking needs a new villain? We want another Bob Diamond, another Fred Goodwin or Stephen Hester who we can point at and say, “You’re the problem”. Bored of the old banking stories, here is a something potentially new. Barclays has recently been beset by woes and the spotlight is on those walking out of the board room.    

While banker bashing has become endemic, a national sport, it is discouraging a generation from (what was) considered the top job. This scrutiny weighs heaviest on those, like Lucas, at board level. After announcing Lucas and Harding’s retirement, Barclays said, “Chris and Mark have agreed to remain in their roles until their successors have been appointed and an appropriate handover completed. The search for these appointments is now underway”. A job in banking anyone?   

Another week, another banker is on the podium. Getty Images

Oliver Williams is an analyst at WealthInsight and writes for VRL Financial News

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Tom Watson rouses Labour's conference as he comes out fighting

The party's deputy leader exhilarated delegates with his paean to the Blair and Brown years. 

Tom Watson is down but not out. After Jeremy Corbyn's second landslide victory, and weeks of threats against his position, Labour's deputy leader could have played it safe. Instead, he came out fighting. 

With Corbyn seated directly behind him, he declared: "I don't know why we've been focusing on what was wrong with the Blair and Brown governments for the last six years. But trashing our record is not the way to enhance our brand. We won't win elections like that! And we need to win elections!" As Watson won a standing ovation from the hall and the platform, the Labour leader remained motionless. When a heckler interjected, Watson riposted: "Jeremy, I don't think she got the unity memo." Labour delegates, many of whom hail from the pre-Corbyn era, lapped it up.

Though he warned against another challenge to the leader ("we can't afford to keep doing this"), he offered a starkly different account of the party's past and its future. He reaffirmed Labour's commitment to Nato ("a socialist construct"), with Corbyn left isolated as the platform applauded. The only reference to the leader came when Watson recalled his recent PMQs victory over grammar schools. There were dissenting voices (Watson was heckled as he praised Sadiq Khan for winning an election: "Just like Jeremy Corbyn!"). But one would never have guessed that this was the party which had just re-elected Corbyn. 

There was much more to Watson's speech than this: a fine comic riff on "Saturday's result" (Ed Balls on Strictly), a spirited attack on Theresa May's "ducking and diving; humming and hahing" and a cerebral account of the automation revolution. But it was his paean to Labour history that roused the conference as no other speaker has. 

The party's deputy channelled the spirit of both Hugh Gaitskell ("fight, and fight, and fight again to save the party we love") and his mentor Gordon Brown (emulating his trademark rollcall of New Labour achivements). With his voice cracking, Watson recalled when "from the sunny uplands of increasing prosperity social democratic government started to feel normal to the people of Britain". For Labour, a party that has never been further from power in recent decades, that truly was another age. But for a brief moment, Watson's tubthumper allowed Corbyn's vanquished opponents to relive it. 

George Eaton is political editor of the New Statesman.