[ by Melanie Gretchen ]

A Barclays internal investigation relating to manipulation of Libor resulted in the firing of 5 employees, the head of its investment bank said on Wednesday.  In June, the British bank agreed to pay $453 million to U.S. and U.K. authorities to settle allegations it had manipulated Libor, forcing out former CEO Robert Diamond Jr. and former chairman Marcus Agius.

The scandal effected an inquiry to focus on standards in banking.  Rich Ricci, chief executive of Barclays' corporate and investment banking, said "a lot" of the individuals identified in its internal probe had left the bank so it could not take action against them.  Authorities have the names of those people, he said;  at Barclays, the firm is finishing its investigation.

"Internally when we conducted our process there were 13 people who have been disciplined – of those that remained – and 5 have been terminated. There's an appeal process for some of the terminations."  -- Mr. Ricci, before a panel of lawmakers as part of the inquiry.