Barclays CEO Staley resigns over investigation in links with Epstein

14:10, 01 November 2021
Barclays CEO Staley resigns over investigation in links with Epstein Photo: FACUNDO ARRIZABALAGA/EPA/ТАСС

Alleged child sex trafficker Jeffrey Epstein was Staley’s client at the beginning of the century.

On Monday London-based Barclays bank announced that its Chief Executive Officer Jes Staley had left the position over a probe in his relationship with sex offender Jeffrey Epstein. Barclays’ Group Chief Executive C.S. Venkatakrishnan has been appointed the new head of the bank.

Staley, 64, resigns ahead of contesting the outcome of the probe carried out by the UK financial watchdog and the Bank of England.

According to a statement issued by the bank and Staley, the investigation which was presented to them on Friday found no proof that “Staley saw, or was aware of, any of Mr. Epstein's alleged crimes".

"In view of those conclusions, and Mr. Staley's intention to contest them, the board and Mr. Staley have agreed that he will step down from his role as group chief executive and as a director of Barclays," the statement said.

Staley states that his last contact with Epstein dates back to 2015 before he was appointed Barclays’ CEO.

In 2020 Staley said that he regretted having affairs with the convicted sex offender in 2000 when Epstein was Staley’s client in the JPMorgan group.

"For sure, with hindsight with what we know now, I deeply regret having any relationship with Jeffrey."

The Barclays Group has supported Staley in the probe and said it was disappointed by the situation highlighting that he had been managing the bank successfully and skillfully for almost six years.

The American executive will keep getting his salary of £2.4 mln ($3.3 mln) in the next 12 months, as well as get the money to move home to the US.

Queen Elizabeth's second son Prince Andrew is currently facing legal action over Virginia Giuffre’s allegations that the Royal Family member sexually abused her at Epstein’s mansion when she was 17.