Varley also said in his speech that he felt Christianity and banking were compatible, that banks were the 'backbone of the economy', and reminded his audience that 'talent is highly mobile. If we fail to pay or are constrained from paying competitive rates, then talent will move to another employer'.

The Barclays CEO was criticised by Neil Jameson, the executive director of London Citizens, who said: 'It's terrible to say things like that in a church. He should be condemned'.

In the meantime, The Financial Times reports that Barclays President Bob Diamond's empire has got bigger, after he has taken on responsibility for the bank's corporate banking business too.

And The New York Post reports that when Brian Moynihan was appointed general counsel for Bank of America (in addition to his other duties) in December 2008, he wasn't actually authorized to practice law. Moynihan was technically not available to proffer legal advise until a week after his appointment, by which time the Massachusetts Bar Association had re-activated his license.

The newspaper says that the disclosure is 'raising eyebrows' among congressional investigators who are in the midst of a probe into Bank of America's acquisition of Merrill Lynch, and Bill Singer, an attorney at Stark & Stark is quoting saying that the issue 'definitely raises ethical questions'.

And The Evening Standard reports that Royal Bank of Scotland CEO Stephen Hester has continued to hit out the European Union, which is demanding that the bank make asset disposals as the price of receiving further UK state aid. Hester is quoted, saying: 'These disposals do not improve competition or make it any easier for us to return money to the taxpayer. We need to return to profitability and financial strength, and I don't believe some of these disposals will help that'.

Reuters reports that Societe Generale has posted a $627m third-quarter profit, but the earnings missed forecasts. There was good news over at the corporate and investment banking unit, however, which made $194m in the period.

Finally, The New York Times reports that David Friehling, Bernie Madoff's long-time accountant, entered a guilty plea Tuesday, admitting that he rubber-stamped audits, which allowed Bernie to conceal his Ponzi scheme for decades. Friehling, who is co-operating with prosecutors in return for leniency, was granted bail.

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