Barclays chief Jes Staley steps down after Epstein investigation

11 months ago 109

Barclays main enforcement Jes Staley is stepping down aft an probe by the City watchdog implicit his links to the enactment offender and disgraced financier Jeffrey Epstein.

The slope said its committee reached an statement implicit Staley’s resignation aft being notified connected Friday of the preliminary conclusions successful an probe by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority into however Staley had characterised his narration with Epstein to Barclays.

The investigation, which began successful precocious 2019, besides looked astatine the accusation successful airy of the information that it was subsequently shared with the FCA, which covers behaviour related issues successful the City.

Barclays said that the outgoing main enforcement plans to situation the investigation’s findings.

“In presumption of those conclusions, and Mr Staley’s volition to contention them, the committee and Mr Staley person agreed that helium volition measurement down from his relation arsenic radical main enforcement and arsenic a manager of Barclays,” Barclays said successful a connection connected Monday morning.

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“The committee is disappointed astatine this outcome. Mr Staley has tally the Barclays Group successfully since December 2015 with existent committedness and skill.”

The slope said the probe did not reason that Staley “saw, oregon was alert of, immoderate of Mr Epstein’s alleged crimes, which was the cardinal question underpinning Barclays’ enactment for Mr Staley pursuing the apprehension of Mr Epstein successful the summertime of 2019.”

The FCA and PRA said successful a associated connection that they “do not remark connected ongoing investigations oregon regulatory proceedings beyond confirming the regulatory actions arsenic elaborate successful the firm’s announcement.”