LONDON – Barclays promised a "rigorous review" of pay of its highest earners and to develop an "open and cooperative" relationship with all regulators in response to an independent report into its recent scandals.
The bank on Wednesday made a series of pledges followed proposals by Antony Salz, which was commissioned by the lender, on how to improve its standards and culture after scandals over rate-fixing and big bonuses in its investment banking arm.
"We intend to develop open, transparent and cooperative relationships with regulators globally to ensure Barclays takes a leading role in contributing to an effective regulatory system. Our objective is to become a model of constructive engagement with regulators," Barclays said.
(Reporting by Steve Slater. Editing by Jane Merriman)