London Daily

Focus on the big picture.
Saturday, May 31, 2025

Barclays boss resigns over links to billionaire sex offender Jeffrey Epstein

Barclays boss resigns over links to billionaire sex offender Jeffrey Epstein

Barclays announced on Monday that its chief executive, Jes Staley, is resigning after an investigation by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) into his relationship with Jeffrey Epstein.
The joint FCA and PRA investigation was launched in late 2019 after emails between Staley and Epstein were handed to the UK watchdogs by their US equivalents. It focused on the chief executive’s “characterisation to the company of his relationship with Mr Epstein and the subsequent description of that relationship in the company’s response to the FCA.”

Responding to the investigation’s findings, Barclays released a statement on Monday morning confirming that Staley will step down from his role as chief executive and as a director of the bank.

“The board is disappointed at this outcome. Mr Staley has run the Barclays Group successfully since December 2015 with real commitment and skill,” Barclays said.

The Barclays bank chief has said that he developed a connection with Epstein in 2000 when he worked at JP Morgan, where the now-decease billionaire sex offender was already a client. After leaving JP Morgan, Staley claimed his relationship began to “taper off,” with contact becoming “much less frequent” until it ended two years later.

Staley said his final contact with Epstein was in “middle to late 2015,” just before he started his role as chief executive of Barclays. Earlier in 2015, Staley had sailed his yacht, the Bequia, to Epstein’s private island in the Caribbean.

The FCA and PRA refused to comment on their findings, stating that they do not discuss “ongoing investigations or regulatory proceedings,” except confirming regulatory actions announced by firms.

Staley has not issued a statement on his departure. However, Barclays confirmed he is planning to contest the findings of the investigation.

C.S. Venkatakrishnan, currently serving as head of Global Markets, is set to take over as the chief executive of Barclays with immediate effect, pending regulatory approval. The bank confirmed that it “has had succession planning in hand for some time,” identifying Venkatakrishnan as the preferred successor.
Newsletter

Related Articles

0:00
0:00
Close
Satirical Sketch Sparks Political Spouse Feud in South Korea
Indonesia Quarry Collapse Leaves Multiple Dead and Missing
South Korean Election Video Pulled Amid Misogyny Outcry
Asian Economies Shift Away from US Dollar Amid Trade Tensions
Netflix Investigates Allegations of On-Set Mistreatment in K-Drama Production
US Defence Chief Reaffirms Strong Ties with Singapore Amid Regional Tensions
Vietnam Faces Strategic Dilemma Over China's Mekong River Projects
Malaysia's First AI Preacher Sparks Debate on Islamic Principles
White House Press Secretary Criticizes Harvard Funding, Advocates for Vocational Training
France to Implement Nationwide Smoking Ban in Outdoor Spaces Frequented by Children
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
Russia's Fossil Fuel Revenues Approach €900 Billion Since Ukraine Invasion
U.S. Justice Department Reduces American Bar Association's Role in Judicial Nominations
U.S. Department of Energy Unveils 'Doudna' Supercomputer to Advance AI Research
U.S. SEC Dismisses Lawsuit Against Binance Amid Regulatory Shift
Alcohol Industry Faces Increased Scrutiny Amid Health Concerns
Italy Faces Population Decline Amid Youth Emigration
U.S. Goods Imports Plunge Nearly 20% Amid Tariff Disruptions
OpenAI Faces Competition from Cheaper AI Rivals
Foreign Tax Provision in U.S. Budget Bill Alarms Investors
Trump Accuses China of Violating Trade Agreement
Gerry Adams Wins Libel Case Against BBC
Russia Accuses Serbia of Supplying Arms to Ukraine
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
Chinese Woman Dies After Being Forced to Visit Bank Despite Critical Illness
President Trump Grants Full Pardons to Reality TV Stars Todd and Julie Chrisley
Texas Enacts App Store Accountability Act Mandating Age Verification
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Vatican Calls for Sustainable Tourism in 2025 Message
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Trump Threatens 25% Tariff on iPhones Amid Dispute with Apple CEO
Putin's Helicopter Reportedly Targeted by Ukrainian Drones
Liverpool Car Ramming Incident Leaves Multiple Injured
Australia Faces Immigration Debate Following Labor Party Victory
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
Macron Dismisses Viral Video of Wife's Gesture as Playful Banter
Cleveland Clinic Study Questions Effectiveness of Recent Flu Vaccine
Netanyahu Accuses Starmer of Siding with Hamas
Junior Doctors Threaten Strike Over 4% Pay Offer
Labour MPs Urge Chancellor to Tax Wealthy Over Cutting Welfare
Publication of UK Child Poverty Strategy Delayed Until Autumn
France Detains UK Fishing Vessel Amid Post-Brexit Tensions
Calls Grow to Resume Syrian Asylum Claims in UK
Nigel Farage Pledges to Reinstate Winter Fuel Payments
Boris and Carrie Johnson Welcome Daughter Poppy
×