Advertisement

Barclays CEO Jes Staley resigns amid inquiry into ties with Jeffrey Epstein

Barclays CEO Jes Staley resigns amid inquiry into ties with Jeffrey Epstein
James "Jes" Staley had known Jeffrey Epstein since 2000 when he was head of investment banking at JPMorgan Chase.  File Photo by Facundo Arrizabalaga/EPA-EFE

Nov. 1 (UPI) -- Barclays bank CEO James "Jes" Staley is stepping down from his post amid a British investigation into his ties to disgraced financier and sex offender Jeffrey Epstein, officials said Monday.

Staley's relationship with Epstein, who killed himself in a New York City jail two years ago while he was facing sex trafficking charges, has been the subject of an inquiry by Britain's Financial Conduct Authority and Prudential Regulation Authority.

Advertisement

Monday, the bank said it and Staley came to the decision to resign after they were made aware of preliminary results of the investigation on Friday.

Staley had known Epstein since 2000 when he was head of investment banking at JPMorgan Chase. Photo by U.S. Attorney Southern District of New York/EPA-EFE

While it did not disclose those findings, the bank said in a statement that the results made "no findings that Mr. Staley saw, or was aware of, any of Mr. Epstein's alleged crimes, which was the central question underpinning Barclays' support for Mr. Staley following the arrest of Mr. Epstein in the summer of 2019."

Staley, 64, has been head of Barclays since 2015. He will receive his annual pay of $3.3 million and a pension of $164,000 until next October.

Advertisement

The bank said C.S. Venkatakrishnhan will succeed Staley as CEO.

Staley had known Epstein since 2000 when he was head of investment banking at JPMorgan Chase. Staley had told Barclays that he didn't remain in contact with Epstein after becoming CEO six years ago.

Latest Headlines

Advertisement
Advertisement

Follow Us

Advertisement