Dechert joins Norton Rose with role for ex-Barclays chief Diamond

US law firm Dechert has confirmed it is representing former Barclays chief executive Bob Diamond over the Libor rate-fixing scandal that has rocked the banking sector.

White-collar defence partner Andrew Levander is taking the lead role for Diamond, as the investigation into the manipulation of benchmark interest rates continues. 

Levander, a respected white collar crime defence lawyer, has also previously represented high-profile figures such as former MF Global CEO Jon Corzine and ex-Merrill Lynch chief John Thain, and also acted for outside directors of Lehman Brothers in the wake of its collapse.

“Dechert has been representing Mr Diamond on this matter from the onset of the Libor investigation in 2010,” a spokesperson for the firm confirmed in a statement.

Another Dechert partner, Cheryl Krause, is also representing Diamond and accompanied him to the Treasury select committee inquiry last week at which he fielded questions on Barclays’ role in the scandal.

Diamond was forced to stand down from his role at Barclays last week (3 July) after receiving a vote of no confidence from regulators.

The news of Dechert’s involvement comes days after Legal Week revealed that Norton Rose had secured a mandate to advise Diamond on his departure from Barclays. Litigation partner Dorian Drew is leading the firm’s team alongside former banking litigation partner James Bagge, who left Norton Rose at the end of March to join QEB Hollis Whiteman as a barrister.