Bank board says it has full confidence in CEO as UK financial watchdog looks at ties to disgraced financier
Kalyeena Makortoff Banking correspondent
Thu 13 Feb 2020 02.26 EST
UK regulators are investigating Barclays chief executive Jes Staley over whether he was sufficiently transparent about his links to the disgraced financier Jeffrey Epstein.
Barclays bank said the investigation, launched by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA), focused on Staley’s “characterisation to the company of his relationship with Mr Epstein and the subsequent description of that relationship in the company’s response to the FCA”.
The American banking boss, who joined Barclays in 2015, says he developed a relationship with Epstein in 2000 when he was running the private bank at JP Morgan. Epstein died in prison last year while awaiting trial on charges of sex-trafficking underage girls.
As the investigation was revealed on Thursday, Barclays said it had conducted an internal review and had no concerns over the way its chief executive had characterised his dealings with the convicted sex offender.