Jes Staley, former CEO of Barclays and a previous executive at JPMorgan Chase, has agreed to be interviewed by the House Oversight and Government Reform Committee on July 23. This testimony is concerning his relationship with the convicted sex offender Jeffrey Epstein, who was a client of JPMorgan's private wealth division when Staley led it.
Staley's departure from Barclays in late 2021 was prompted by a probe from the UK's Financial Conduct Authority (FCA) into how he characterized his relationship with Epstein to the bank. In 2023, the FCA fined Staley over $2 million and permanently banned him from holding management roles in the UK financial sector. Barclays stated at the time that the investigation found no evidence Staley saw or was aware of Epstein's crimes.
JPMorgan Chase, where Staley worked for over three decades, reached a $290 million settlement in 2023 with victims of Epstein, addressing claims that the bank facilitated sex trafficking. Separately, JPMorgan settled a lawsuit by the U.S. Virgin Islands for $75 million. The bank also reached a confidential settlement with Staley regarding its claims that he was responsible for civil damages and costs related to Epstein-linked litigation.
Staley had previously stated in 2020, "Obviously, I thought I knew him well, and I didn't. For sure, with hindsight, with what we know now, I deeply regret having any relationship with Jeffrey." The Oversight Committee has also interviewed other high-profile individuals as part of its investigation into Epstein, including Bill Clinton, Hillary Clinton, and Howard Lutnick.
