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.
Since November 2008
Share issue oversubscribed
PARTNER INSIGHT: For many advisers, outsourcing to a multi-manager or discretionary fund manager makes sense, allowing them to focus on the adviser-client relationship
Events, information and other services
An added tier of asset management can of course deliver additional benefits for certain investors, writes Graham Bentley - just be sure you can justify it to the regulator and, especially, the client