How to spot corporate rot

After Antony Jenkins took over as Barclays chief executive in 2012 following the Libor scandal, he moved quickly to axe the bank’s structured capital markets unit, responsible for controversial tax avoidance strategies.

“I felt [the division] was clearly inconsistent with the values we were trying to set,” Jenkins, who now runs financial technology company 10x Banking, told the Financial Times this week. Describing the culture you seek is not enough on its own, he explained. The next step must be to use the values to guide decisions.