Bob Diamond, who will become chief executive of Barclays PLC on Jan. 1, said that banks, bankers and he himself have "made mistakes" in recent times and must do a better job of explaining how the banking sector contributes to society.

"Banks have made mistakes and bankers have made mistakes, I know I've made mistakes," he told Sky News' Jeff Randall. "And we've changed the way we've done business."

Diamond cited higher levels of capital and lower levels of leverage as changes made in the sector. "And I think we have to be very, very careful as we move forward to also focus on the other side, which is jobs and economic growth," he added.

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