Barclays Chief Executive Officer (CEO) Jess Staley stepped down on Monday following a UK regulator’s report on links to the financial sector. Jeffrey Epstein and what the bank’s management found “disappointing”.
Barclays came on Monday to declare that “in its findings the investigation does not contain any evidence that Mr. Staley saw or knew about any of Mr. Epstein’s alleged crimes,” and Jess Staley has already announced that he will dispute report.
Epstein committed suicide in Manhattan federal prison in August 2019a month after being arrested on charges of trafficking for the purpose of sexual exploitation. young girls…
The bank said that S.S. Venkatakrishnan, former Global Markets Leader at Barclays Group, will replace Jes Staley on Monday.
Barclays reported last February that Jes Staley, a 64-year-old American, was targeted by the investigation, which hasn’t stopped the company from renewing its credibility.
“Barclays and Jess Staley, the group’s executive chairman, were briefed Friday night of the preliminary findings” of this investigation, launched by the two main UK financial regulators, the FCA and the PRA, about how Jess Staley spoke to his group about his past business ties with Jeffrey. Epstein.
“Given these findings and Staley’s intention to challenge them, the Board of Directors and Staley have agreed that he will step down as executive chairman of the executive group and CEO of Barclays,” – said the British bank.
Jess Staley developed the business relationship in the 2000s when he became head of the private banking division of JPMorgan, whose clients included an American financier. He previously stated that his last contact with Epstein was in 2015.
The bank’s management said it was “disappointed” with the outcome, despite the fact that “Mr. Staley has successfully led the Barclays group since December 2015 with real commitment and competence,” declining to “comment on further preliminary findings” of the investigation, while the process “Should still go on as usual.”
The FCA and PRA said in a statement that they “do not comment on ongoing investigations or regulatory procedures” beyond what has already been announced by the company.
