Barclays has hired an investment banker to lead an independent review of its culture, as the bank tries to clean up its image following the LIBOR scandal.
The review will be led by Anthony Salz, who is also an experienced corporate lawyer, Barclays said.
It may include an overhaul of Barclays' bonus structure and is expected to last until May 2013, the BBC reports.
"The culture of the banking industry overall, and that of Barclays within it, needs to evolve," said Barclays.
The review "will assess the bank's current values, principles and standards of operation and determine to what extent those need to change", it said.
Salz, who is currently executive vice-chairman at Rothschild, said: "Barclays has a real opportunity to use the events of the past weeks to drive a change in its values and practices."
Speculation has been growing that Lord O'Donnell, a former cabinet secretary, and Bill Winters, the ex-JP Morgan banker, could replace Marcus Agius and Bob Diamond as Barclays' new chairman and chief executive.
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till