(CNN) – The chief executive of Barclays, who resigned Tuesday amid a bank lending scandal, will no longer co-host an upcoming fund-raiser for GOP presidential candidate Mitt Romney, a campaign spokeswoman confirmed Tuesday.
Bob Diamond, who stepped down from his role at one of the world's largest banks following the resignation of Barclay's chief operating officer, was slated to co-host the fund-raiser in London during Romney's upcoming trip to the Olympic Games.
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"Mr. Diamond decided to step aside as a co-host for the upcoming London reception to focus all his attention on Barclays. We respect his decision," Andrea Saul, a spokeswoman for Romney, wrote in a statement. News of Diamond stepping down from the Romney fund-raiser was first reported by the Financial Times.
Diamond has long been a controversial figure, and has been a vocal backer of huge bonuses for bankers.
"It's about pay for performance," he told CNN earlier this year, calling bonuses "rewards for success."
Barclay's reputation has been hammered by a scandal involving the rates at which banks lend each other money, known as Libor.
That rate affects how much interest ordinary people pay on everything from credit card debt to home mortgages and student loans.
Romney currently enjoys strong backing from bankers, some of whom regard President Barack Obama's ad campaign against Romney's former employer, Bain Capital, as anti-capitalist.
Individuals who work in the securities and investment industry gave the Romney campaign $8.5 million through the end of April, according to data from the Center for Responsive Politics.
Over the same time period, Obama brought in only $3 million from securities and investment workers, and the industry is only the campaign's fifth largest source of funds.
One pro-Romney super PAC, Restore Our Future, raised more than $20 million from individuals and organizations associated with the securities and investment industry through April.
Obama's super PAC, Priorities USA Action, only received $218,500 from the same group during the same period.
CNNMoney's Charles Riley contributed to this report.
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