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
A number of Britons are feared stranded on Mount Everest after the Nepal earthquake triggered a deadly avalanche on Saturday.
Prime Minister defends royals' decision to give birth in a private hospital - instead of going with the NHS
Tech giants Facebook and Google both have simple, powerful tools to help friends and family keep track of loved ones