Barclays CEO Antony Jenkins has admitted the bank was too aggressive and too self-serving in recent years.
The bank which paid a fine of 290 million pounds for manipulating the benchmark London Interbank Offered Rate (Libor) and was caught up in the payment protection insurance scandal, has been trying to turn a new leaf.
Jenkins, who took over as CEO in August, said the company was addressing its past mistakes.
"We were too aggressive, we were too short-term focused and too self-serving," Jenkins told CNBC at the World Economic Forum in Davos.
"The industry, and Barclays, got it wrong on occasions," he added.
Barclays put its U.K. investment banking staff on notice for another round of job cuts on Tuesday. The bank has not confirmed the amount of job losses but a reported 2,000 are at risk.
According to Reuters, Barclays is also cutting at least 70 jobs from its Asian investment bank.