Barclays CEO Jes Staley Steps Down as Epstein Fallout Spreads

U.K. regulators probing Staley’s description of Epstein ties
Staley to contest findings, which haven’t been made public yet

WATCH: Jes Staley is stepping down as Barclays CEO. Bloomberg Intelligence’s Jonathan Tyce discusses the move.Source: Bloomberg

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By Stefania Spezzati

November 1, 2021 at 7:24 AM UTC

Updated on

November 1, 2021 at 2:47 PM UTC

This article is for subscribers only.

Barclays Plc Chief Executive Officer Jes Staley abruptly stepped down Monday, the latest titan of global finance whose exit was prompted by ties to financier and sex offender Jeffrey Epstein.

Staley’s departure came after U.K. regulators shared with Barclays the preliminary findings of their multi-year probe into what he told the bank’s board about his relationship with Epstein following the latter’s 2019 arrest on sex-trafficking charges. Barclays’s trading chief C.S. Venkatakrishnan will replace his mentor Staley, 64, who plans to contest the probe’s findings.