The Wall Street Journal reports:
Barclays PLC said Monday it would launch an independently led audit of its business practices as Chairman Marcus Agius confirmed he would resign, taking responsibility for last week’s $453 million settlement of an interest-rate manipulation probe.
“Last week’s events, evidencing as they do unacceptable standards of behaviour within the bank, have dealt a devastating blow to Barclays’ reputation,” Mr. Agius said in a statement Monday. “As chairman, I am the ultimate guardian of the bank’s reputation. Accordingly, the buck stops with me and I must acknowledge responsibility by standing aside.”
