Barclays CEO Jes Staley Steps Down After Epstein Investigation The bank and Staley were made aware of the investigation's conclusions Friday.

By Entrepreneur Staff

Bloomberg | Getty Images

Jes Staley, the American CEO of Barclays, will step aside immediately following a British investigation into his relationship with Jeffrey Epstein.

The bank announced Monday that after the investigation by the Financial Conduct Authority and the Bank of England's Prudential Regulation Authority, Staley will step down and be succeeded by C.S. Venkatakrishnan, though that is subject to regulatory approval. The investigation focused on how Staley characterized his relationship with Epstein to his employer.

The bank and Staley were made aware of the investigation's conclusions Friday.

"In view of those conclusions, and Mr Staley's intention to contest them, the board [of Barclays] and Mr Staley have agreed that he will step down from his role as group chief executive and as a director of Barclays," said the bank, though the statement noted that the investigation did not find that Staley "saw, or was aware of, any of Mr Epstein's alleged crimes."

Epstein, a billionaire and financier, was found dead in his New York prison cell in August of 2019. He was being held without bail after pleading not guilty to sex trafficking and conspiracy charges. He was accused of paying minors to perform sex acts at his mansions in New York and Florida between 2002 and 2005. Epstein was charged similarly in the early 2000s, but took a secret plea deal in 2008, pleading guilty to a lesser charge.

Wavy Line
Entrepreneur Staff

Entrepreneur Staff


Editor's Pick

A Father Decided to Change When He Was in Prison on His Son's Birthday. Now His Nonprofit Helps Formerly Incarcerated Applicants Land 6-Figure Jobs.
A Teen Turned His Roblox Side Hustle Into a Multimillion-Dollar Company — Now He's Working With Karlie Kloss and Elton John
3 Mundane Tasks You Should Automate to Save Your Brain for the Big Stuff
The Next Time Someone Intimidates You, Here's What You Should Do
5 Ways to Manage Your Mental Health and Regulate Your Nervous System for Sustainable Success

Related Topics

Business News

'I Am Just Floored': Woman Discovers She Won $1 Million Lottery Prize While Checking Her Email at Work

Initially, she thought the email was a scam, but went to lottery headquarters and walked away with a six-figure check after taxes.

Business News

Amazon Might Soon Be Adding Ads to Prime Video

The company wants to generate more ad revenue for its streaming service.

Business News

'I've Got the Bug for Business': See All of Mark Wahlberg's Entrepreneurial Endeavors, From Marky Mark and the Funky Bunch to Wahlburgers

Mark Wahlberg owns businesses in several categories, including entertainment production, apparel, fitness, and nutrition.


5 Simple Tweaks for Better Email Deliverability

Email success starts in the inbox. Learn five easy ways to tweak your strategy so you can achieve better email deliverability.


'Entrepreneur Elevator Pitch' Is Back Open for Business!

Check out this preview of season nine of our hit show "Entrepreneur Elevator Pitch." Big ideas and big money are on the line!


How Leveraging External Trainers Can Advance Your Companies Growth and Talent Optimization

Discover how your organization can use external trainers to build capabilities, lower training cost and create a sustainable workforce for the future, while still delivering high-quality training and lasting results.