Mr Walker and the compliance chief, Andrew Procter, are given as examples in a report from the regulator of the management board's failure to achieve cultural change to the bank after the Libor-fixing scandal became public. Mr Walker joined the group executive committee in 2012. None of the men have been accused of any wrongdoing. The report says that the bank did not produce 'a sufficient explanation and examination of the processes within the Bank in dealing with the allegations to Libor'.

Action

The bank said: 'As per the current status of investigations, we can say that no current or former member of the management board had any inappropriate involvement in the interbank offered rates matters under review.' It goes on to add that an internal bank review 'also found that certain employees, acting on their own initiative, engaged in conduct that falls short of the bank's standards, and action has been, and will continue to be taken accordingly'. Source: Legal Week