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Monday, November 01, 2021

CEO of Barclays Steps Down Over Epstein Connection

Barclays CEO Jes Staley has quit after a probe into his links with sex offender Jeffrey Epstein.

The City watchdog and Bank of England have been investigating if Mr Staley's relationship to the dead financier was closer than first thought.

Barclays said it had been made aware of the conclusions of the probe and "Mr Staley's intention to contest them".

Regulators began investigating after getting a cache of emails between the men from Mr Staley's former employer.

Barclays was 

"made aware on Friday evening of the preliminary conclusions from the FCA and the PRA of their investigation into Mr Staley's characterisation to Barclays of his relationship with the late Mr Jeffrey Epstein and the subsequent description of that relationship in Barclays' response to the FCA.

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.

It should be noted that the investigation makes no findings that Mr Staley saw, or was aware of, any of 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."

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