Barclays

Legacy trail commission may create a "moral hazard" in which advisers encourage investors to stay in investments longer than they should, analysts at Barclays have warned.

Barclays has set aside an additional £400m to repay customers mis-sold interest rate hedging products and another £600m for payment protection insurance (PPI) redress.

Barclays has announced that Chris Lucas, its group finance director, and Mark Harding, the group general counsel, are to retire from the business.

Barclays chief executive Antony Jenkins has rejected his bonus package for 2012, saying it would be wrong for him to accept it after a year in which scandal engulfed the bank.

MPs have heavily criticised Barclays' defence of its bonus programme, labelling former CEO Bob Diamond's £2.7m bonus for 2011 as "absolutely extraordinary".

Barclays has threatened "substantial" job cuts in its London investment bank, ahead of a review of its operations by new chief executive Antony Jenkins.

Odey Asset Management is drafting plans for a UCITS version of Crispin Odey's flagship European hedge fund strategy as part of a wider expansion of its range, Investment Week understands.

Barclays Bank staff who do not feel they can commit to new a new code of ethics should leave, its new CEO has said.

Charles Stanley has appointed Douglas McNeill as investment director for its new direct-to-client service, due to launch at the end of March.

The final cost to banks of the PPI mis-selling scandal could be as much as £25bn, almost double the figure the banks have estimated so far.