Barclays Chief Executive Jes Staley is stepping down from his role as head of the multinational banking group after British regulators announced preliminary conclusions of a probe into his ties to convicted sex offender and disgraced financier Jeffrey Epstein.
In a Nov. 1 statement, Barclays said it was made aware on Oct. 29 of initial findings of the investigation by Britain’s Financial Conduct Authority (FCA) and the Prudential Regulatory Authority (PRA) into Staley’s characterization to Barclays of his relationship with Epstein and the subsequent description of that relationship in Barclays’ response to the regulators.
