Marcus Agius, who was speaking at a London conference ahead of President Barack Obama’s speech on bank regulation , said that global banks faced a deluge of new controls and political changes – but he was careful to insist that bankers could not complain. “The financial services sector in general and banking in particular is facing a tsunami of regulatory pressure, public pressure, opinion pressure and political pressure,” he said. “It’s perfectly understandable and I’m not in any sense railing against it… what keeps me awake at night is coping with all of that and how it’s going to play out.” For individual Barclays bankers, the immediate impact will be felt in this year’s compensation round.

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