5 months ago
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A former boss of Barclays, who was ousted from the bank over his links to convicted sex offender Jeffrey Epstein, will seek to clear his name in court this week.
The BBC is reporting that Jes Staley was forced out in November 2021. This, after UK regulators ruled he had failed to accurately disclose the nature and length of his relationship with Epstein to the Barclays board.
The episode cost Mr Staley, a man with a glittering and rewarding career in investment banking, £18 million in pay and bonuses and, more importantly, his reputation.
Mr Staley is seeking to overturn a decision by the Financial Conduct Authority in 2023 banning him from holding a senior position in financial services.
Jes Staley had been disciplined by regulators in 2018 over his attempts to unmask a whistleblower he felt was unfairly trying to smear a colleague.
But the crucial blow to his position at Barclays was his insistence that his relationship with Epstein was “not close” and had ended before he took up the top job at the UK bank.
A cache of emails released by his former employer JP Morgan suggested the relationship was in fact very close.
Email exchanges describe time spent together at Mr Epstein’s properties in New York and on his private island in the US Virgin Islands.
English (US) ·