Barclays CEO Steps Down Over Epstein Ties

Looks like Epstein was tied to almost everyone.

Jes Staley, chief executive of Barclays BCS, is now stepping down due to his ties to Jeffrey Epstein.

From The Wall Street Journal:

Jes Staley stepped down as chief executive of Barclays BCS -0.09%â–² PLC under pressure from regulators about how he characterized his relationship with the convicted sex offender and financier Jeffrey Epstein.

Barclays said U.K. regulators had made preliminary conclusions in its long-running investigation into what Mr. Staley told the bank about his association with Mr. Epstein and what it told regulators about the relationship.

The bank said the investigation didn’t find evidence that “Mr. Staley saw, or was aware of, any of Mr Epstein’s alleged crimes” and said Mr. Staley was planning to contest the conclusions made by regulators.

The Epoch Times added more.

The investigations sought to examine Staley’s “historical” links to Epstein while Staley ran the private banking arm of U.S. investment bank JP Morgan, according to Sky News. Barclays said in February 2020 that Staley had offered an account of his business relationship with Epstein and the bank’s board determined Staley had been “sufficiently transparent” in describing his links to the deceased convicted sex offender, according to the outlet.

While no details are available on the findings of the FCA and PRA probes, it appears the agencies “believe there was a distinct lack of transparency over this relationship,” said Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown, according to The Guardian.

The FCA and PRA issued a joint statement on Nov. 1, saying they “do not comment on ongoing investigations or regulatory proceedings beyond confirming the regulatory actions as detailed in the firm’s announcement.”

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