Barclays announced Monday that Jes Staley, the CEO of Barclays, is resigning amid an investigation into Jeffrey Epstein's ties to him.
Barclays stated that Staley had seen preliminary conclusions from the regulatory investigation on Friday.
Barclays stated that UK regulators are currently examining Staley’s "characterization” of Epstein's ties to him.
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Jes Staley, Barclays CEO, is resigning with immediate effect as a result of a regulatory investigation into his relationship to Jeffrey Epstein.
Barclays stated Monday that it was made aware by UK financial regulators of the "preliminary findings" from its investigation.
Epstein, a disgraced financier, was charged with child-sex-trafficking offenses in July 2019. A month later, he was found dead in jail.
Barclays Monday said that investigators were looking into Mr Staley's description to Barclays about his relationship to Mr Jeffrey Epstein, and subsequent descriptions of that relationship in Barclays’ response to the UK Financial Conduct Authority.
Barclays stated that Mr Staley wanted to "contest the preliminary conclusions of the investigators," and that he was doing so.
Barclays stated: "It is important to note that the investigation does not find that Mr Staley saw or was aware of any of Mr Epstein’s alleged crimes. This was the central question that underpins Barclays’ support for Mr Staley after the arrest of Mr Epstein in summer 2019.
Barclays stated that Staley and its board "have agreed to step down from their roles as group chief executive officer and directors of Barclays."
CS Venkatakrishnan will assume the role of Barclays CEO immediately. He is currently head of global market.
Staley will continue receiving his fixed pay of $2.4 million ($3.3million) in cash and Barclays stock shares until his 12-month notice period expires on October 31, 2022. Barclays stated.
Barclays shares fell 3.4% on Monday in London's early trading.
