Those in the investment banking division at Barclays have long talked about the benefit of having a group chief executive who "gets" their business. Bob Diamond was also renowned for putting in calls in a bid to win business, even after he was elevated to the top job at the bank.

But now both he and Jerry del Missier, the former chief operating officer at Barclays and one of the main champions of the corporate and investment banking division, have gone. With the search for a new chief executive underway, the future of that unit is now under scrutiny.