A seasoned source told me a few months ago that Diamond’s tenure was abruptly terminated because "He was foreign! In this new era of heightened public scrutiny and domineering regulators," the source sighed, "your cultural values and background have to be aligned with those of the national authorities. If your face doesn’t fit and there’s a setback, you are out. It happened to Bob and it happened to Vikram Pandit at Citi. Anshu Jain, over at Deutsche, needs to watch out."
Abigail Hofman,
May 30, 2013