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Barclays CEO Jes Staley to quit over Epstein probe findings

Barclays CEO Jes Staley: After hearing early findings from a review into his ties to financier and sex criminal Jeffrey Epstein, Barclays CEO Jes Staley is stepping down.

According to a statement, Staley, 64, will resign on Monday. As CEO, CS Venkatakrishnan will take over.

“On Friday evening, the FCA, as well as the PRA, notified Barclays and Mr. Jes Staley, Group CEO, of the preliminary conclusions of their investigation into Mr. Staley’s characterization of his relationship with the late Mr. Jeffrey Epstein to Barclays and the subsequent description of that relationship in Barclays’ response to the FCA,” Barclays said in a statement.

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“In light of those determinations, and Mr Staley’s decision to fight them, the board and Mr Staley have agreed that he will resign from his roles as group CEO and as a director of Barclays.”

Staley had previously stated that in the summer of 2019, he volunteered to inform the Barclays board of directors his account of how his 15-year professional relationship with Epstein had progressed. The Financial Conduct Authority of the United Kingdom started a formal investigation into the account in December.

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