Speculation about Barclays’ capital raisings from Qatar and Abu Dhabi will only grow following Euromoney’s revelations. CEO Antony Jenkins should draw a line under the episode by revealing all.

Independent report into Barclay's pay, culture and reputation is perhaps a little vague and is unlikely to prove a game-changer for the bank, with CEO Jenkins already talking the talk.

Trying to change cultures within banking institutions is never easy, which is why Barclays’ new chief executive is taking a hard and seemingly Soviet-era approach at the UK bank. The message is clear: Barclays would now like to be seen as a stodgy commercial bank run by a proselytizing Brit.

Last month, ill-informed speculation grew to a crescendo that Antony Jenkins, the newish chief executive of Barclays, who spent his career on the retail side of the bank, would take the axe to the investment banking division. After all, UBS’s shares had been re-rated after the bank announced a wide-scale deleveraging of the investment bank, particularly those parts of the FICC division that had large amounts of capital tied up by counterparty risk exposure in long-dated derivatives.

When Barclays announced its fourth-quarter and full-year 2012 results last month these were entirely overshadowed by the strategy review from new chief executive Antony Jenkins. In the aftermath, analysts and investors bemoaned or applauded, depending on their biases, the decision to retain the investment bank largely unscathed and re-emphasize its importance and particularly that of the FICC division to the group.

Revenue and cost targets do not convince analysts, but regulators appear to bless capital planning.