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Barclays saw improving aggressive culture as "critical"
July 16, 2012 / 5:03 PM / 5 years ago

Barclays saw improving aggressive culture as "critical"

LONDON, July 16 (Reuters) - The board of Barclays in February said improving a culture that was seen as too aggressive and resolving a difficult relationship with the UK regulator were “critical” to its future, according to minutes released of a board meeting.

The comments were included in minutes of a board meeting on Feb. 9 where the Financial Services Authority told the bank it had concerns about an “aggressive” culture.

The minutes said after the FSA left, the board discussed “the need to get the tone from the top right”.

It added: “Resolving this was critical to the future of the group.”

The minutes were released as part of a probe into the manipulation of Libor interest rates at Barclays.

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