Bank chief speaks out on risk taking – and welcomes 'strong regulation'

Every bank "has made mistakes" during the financial crisis, Bob Diamond said during a panel discussion.

The bank said this month that Mr Diamond, currently head of its investment and wealth management business Barclays Capital, will become its CEO in March.

Mr Diamond said he welcomed increased regulation of the banking industry, including new global capital requirements and the new US regulatory reform law.

"We've learned a lot in the past couple of years, and banks have changed," he said. "Strong banks want strong regulation."

But Mr Diamond also raised a few complaints, saying "it's been tough" for strong banks such as his to have their reputations tarnished during the financial crisis by the failures and mistakes of weaker banks.

He finished his remarks by calling for "more fact-based debates" in the UK, the United States and other areas of the world.

Mr Diamond spoke during a panel discussion on "market-based solutions" at the Clinton Global Initiative conference in New York.

Barclays' shares closed last night at 306.7p, down 1.5 per cent.