The revamping that is a part of Barclays broader strategic review is intended at fixing the bank’s culture in the wake of the financial crisis.

The most critical part of chief executive Antony Jenkins’ review is considered to be the future shape and size of the investment bank since it contributes more than half of group profits, but which is also known to be conducting the casino activities that politicians and regulators are cracking down on.

In June 2012, Barclays was fined US$450 million for rigging Libor interest rates, which forced its chairman and chief executive to quit.

The bank has said that the activities that make low returns or lack scale are at threat, and added that it will stop anything that may harm its reputation, like tax advisory and agricultural commodities trading.