A former boss of Barclays, who was ousted from the bank on his links with the sex offender sentenced Jeffrey Epstein, will seek to erase his name in court this week.
Jes Staley was forced to go out in November 2021 after the British regulators declared that he had not accurately disclosed the nature and duration of his relationship with Epstein with the Barclays board of directors.
The episode cost Mr. Staley, a man with a sparkling and enriching career in the investment bank, 18 million pounds sterling in salary and bonuses and, more importantly for the 68 -year -old man, his reputation.
Mr. Staley seeks to cancel a decision by the Financial Conduct Authority in 2023 the prohibition to occupy a position of senior in financial services.
Jes Staley had been disciplined by the regulators in 2018 for his attempts to unmask a denunciator whom he estimated who was unjustly trying to dirty a colleague. But the crucial blow of his position in Barclays was his insistence that his relationship with Epstein was “not close” and had ended before taking the post greater than the British bank.
A cache of emails published by his former employer JP Morgan suggested that the relationship was in fact very close.
The exchanges of emails describe the time spent together to the properties of Mr. Epstein in New York and on his private island in the American Virgin Islands.
An e-mail thread now sadly famous shows that Mr. Staley notes in Epstein “It was fun, say hello to Snow White”. Epstein answers “What character would you like then? To whom Mr. Staley replies” Beauty and the Beast! “.
There are also allegations according to which he and Epstein remained in indirectly contact after taking the work of Barclays. Mr. Staley’s lawyers insist that such measures were initiated by Epstein and Mr. Staley did not try to contact Epstein.
All this will be distributed in a court which will call the former regulators and leaders as witnesses and many have wondered why Mr. Staley, who is now 68 years old and extremely rich, would again like this advertisement.
Jes Staley is a hard and fiercely proud man. He had a very successful career in Wall Street and many thought that he was intended to take over at the head of his former employer JP Morgan – the largest investment bank in the world.
Internally, he was popular with most of his banking colleagues. His bad attempt to unmask a denunciator who, according to him, heard a former colleague, was considered by some – but not all – as proof of fierce loyalty to his own troops.
This desire to get into combat will be exposed in the coming days, but it seems little to restore its reputation or its future position to that which it appreciated before it is shown the door of Barclays.
