Wealth
Jes Staley’s Ties to Jeffrey Epstein Are Latest Headache at Barclays
- British lender’s shares have barely moved since media report
- Activist investor bid for board seat was defeated this year
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The scandal involving Jeffrey Epstein, the disgraced millionaire arrested this month on charges of sex trafficking minors, has crossed from the world of New York money into the heart of the City of London.
The disclosure that Jes Staley, chief executive officer of Barclays Plc, had business ties to Epstein is just the latest headache for the American, who in 2015 was hired to steer the 328-year-old British institution. While Staley’s ties to Epstein date back to the time he was at JPMorgan Chase & Co., the revelations come at an inopportune time for the CEO, who is seeking to usher in an era of stability after a period marked by conflict -- with shareholders, regulators and his own top executives.