Monday, November 1, 2021

Barclays CEO Staley leaves due to findings of Epstein probe

Barclays' CEO Jes Staley arrives at 10 Downing Street in London January 11, 2018. — Reuters pic
Barclays' CEO Jes Staley arrives at 10 Downing Street in London January 11, 2018. — Reuters pic

Follow us on Instagram and subscribe to our Telegram channel for the latest updates.


LONDON, Nov 1 — Barclays said on Monday that chief executive Jes Staley is to stand down following British regulators’ investigations into his dealings with Jeffrey Epstein.

The bank said it was made aware on Friday evening of the preliminary conclusions from the Financial Conduct Authority and the Prudential Regulatory Authority’s investigation into Staley’s characterisation to Barclays of his relationship with Epstein and the subsequent description of that relationship in Barclays’ response to the regulator.

“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,” the bank said.

Barclays said last year that Britain’s financial regulators were probing links between Staley and Epstein, who killed himself while awaiting trial on sex trafficking offences. Staley has previously said his relationship with Epstein ended in late 2015, and that he regretted having any relationship with him.

The FCA and PRA said in a statement they could not comment further on the Epstein investigation.

Barclays said CS Venkatakrishnan will take over as chief executive.

“The board is disappointed at this outcome. Mr Staley has run the Barclays Group successfully since December 2015 with real commitment and skill,” the bank said in a statement. — Reuters




Source: Malay Mail

A word from our sponsor:

Need Help With Your Personal Finance / Money Issue or need a coach to help you structure or just want to learn the financial skill to self manage your financial matters and retirement. iLearnFromCloud.com

Need to solve a problem quickly, now you can solve it by learning the art of problem solving Art Of Problem Solving

Feeling hungry. Latest food news from Best Restaurant To Eat Malaysian Food and Travel Blog

Memory loss. Need to organize better. Solve problem fast with Free Mind Mapping Software Mind Mapping 101

Need A Customized System Development for your business or Going Paperless XPERT TECHNOLOGIES - Empowering The Paperless Economy

No comments:

Post a Comment

21 Purchases You Should Never Skimp On