Ex-Barclays boss with Epstein links seeks to clear his name

Former Barclays CEO Jes Staley, who was ousted due to his relationship with convicted sex offender Jeffrey Epstein, will seek to clear his name in court this week. Staley maintains that his relationship with Epstein was not close and ended before he joined Barclays, a claim that has been challenged by emerging evidence.

Staley was forced to step down in November 2021 after UK regulators ruled that he failed to accurately disclose to the Barclays board the nature and duration of his relationship with Epstein. This incident cost Staley, who had a brilliant career in investment banking, £18 million in salary and bonuses and, more importantly, damaged his reputation at the age of 68.

Staley is seeking to overturn a 2023 decision by the Financial Conduct Authority (FCA) to ban him from holding senior positions in the financial services sector. Previously, Staley had been disciplined by regulators in 2018 for attempting to unmask a whistleblower he believed was unfairly smearing a colleague.

A series of emails released by JPMorgan Chase revealed that Staley's relationship with Epstein was, in fact, quite close. The email exchanges documented their time spent at Epstein's New York property and his private island in the U.S. Virgin Islands. One infamous email showed Staley saying to Epstein "that was fun, say hello to Snow White." Epstein replied, "which character do you want next?", to which Staley responded, "Beauty and the Beast!"

Furthermore, there are allegations that Staley indirectly maintained contact with Epstein after joining Barclays. Staley's lawyers insist that any such moves were initiated by Epstein, and Staley did not attempt to proactively contact Epstein. The court will summon former regulators and executives as witnesses, with many questioning why the now 68-year-old and very wealthy Staley would want to publicize the matter again. While he was once a popular banker on Wall Street, it seems unlikely that he will return to the reputation and position he held before being dismissed from Barclays.