Birds of a Feather (1)

Tory Deputy Chairman didn’t declare his son worked for Bob Diamond

Senior member of the Treasury Select Committee Michael Fallon had a lapse of memory in relation to the questions he addressed to ex-Barclays boss Bob ‘Speech impediment’ Diamond recently.

The Tory Deputy Chairman gracefully acknowledged that he worked for Libor Brokers Tullett Prebon,  and was therefore up to his neck thus fully conversant with the sector. But he failed to point out that, for the last year, his son Peter Fallon has been employed as an Investment Banker with Barclays. (Investment banking is, shall we say, Mr Diamond’s specialist subject).

This strikes The Slog as an odd oversight: keen to admit that he’d been Diamond’s client, but unwilling to reveal that his son was Diamond’s employee.

Young Peter started with Barcap in July 2011. I find it hard to imagine that, at some point in the Barclays HR recruitment process, the identity of his illustrious Dad didn’t came up. I equally find it near impossible to imagine the son not discussing the application with the father.

So we have to assume, I suppose, that Tory Deputy Chairman Michael Fallon was more than happy to tell his son to take the job. As well as being more than happy to dump on the Diamond Geezer 10 months later. 

The Conservative Party leader is, of course, Mr David Cameron, a keen supporter of the Leg Up. So presumably this is nothing more than a case of Follow My Leader.