Barclays boss Antony Jenkins said he was "shredding" the legacy left by his predecessor Bob Diamond as he confirmed bonuses will be slashed.
In a tense hearing with the Parliamentary Commission on Banking Standards, Jenkins told MPs he was taking action to address the "aggressive" and "self-serving" culture under Diamond.
He said the bonus pool for 2012 had already been "substantially" reduced following a scandal-hit year, in which the bank's reputation battered by the Libor rate-rigging affair.
The group is expected to reveal its 2012 bonus pool in the company's annual results next Tuesday.
More top news
Human rights groups have condemned Pakistan for executing a man who said he was tortured into confessing to murder when he was 14.
The answer is it's not Britain. See where the UK ranks out of the 28 EU member states.
Most disabled people say they are treated differently by strangers and reveal common gaffes for Scope's #EndTheAwkward campaign.