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- Barclays said Monday that CEO Jes Staley is stepping down amid a probe into his ties with Jeffrey Epstein.
- Barclays said Staley had on Friday seen “preliminary conclusions” from a regulatory probe.
- Epstein was arrested in July 2019 and charged with child sex-trafficking. He hanged himself in jail a month later.
Barclays CEO Jes Staley is stepping down from the bank with immediate effect amid a regulatory probe into his relationship with Jeffrey Epstein.
Barclays said in a statement Monday it was made aware of “preliminary conclusions” from the investigation, by UK financial regulators, on Friday evening.
“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,” Barclays said.
“It should be noted that the investigation makes no findings that Mr Staley saw, or was aware of, any of Mr 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,” the bank added.
CS Venkatakrishnan, head of global markets, will take over as Barclays CEO effective immediately.
Shares in Barclays fell by 3.4% in early trading in London on Monday.
Disgraced financier Epstein was arrested in July 2019 and charged with child sex-trafficking. He hanged himself in jail a month later.
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