Former Barclays CEO Jes Staley is appearing before a US congressional panel for a closed-door interview about his past connections to Jeffrey Epstein, a convicted child sex offender. This testimony is part of a broader congressional inquiry into the financial links between Wall Street executives and Epstein. Staley's relationship with Epstein ultimately led to his resignation from Barclays in November 2021 after a UK regulatory investigation.
The UK's Financial Conduct Authority (FCA) found that Staley's relationship with Epstein "went beyond one that was professional in nature" and concluded that the two were "indeed close." The FCA banned Staley from holding any senior management role in the UK financial sector and fined him over $2 million for downplaying these ties. Despite his claims of limited contact, emails examined by the FCA described Epstein as one of Staley's "deepest" and "most cherished" friends. Staley had been a close client of JPMorgan's private wealth and asset management divisions when he led them.
Staley's testimony comes amid ongoing investigations into how financial institutions handled their relationships with Epstein. JPMorgan, Staley's former employer, settled lawsuits in 2023, agreeing to pay $290 million to Epstein's victims and $75 million to the U.S. Virgin Islands, where Epstein owned an estate, over allegations that the bank facilitated sex trafficking by Epstein. The House Oversight Committee believes Staley possesses information crucial to their probe, noting internal discussions at JPMorgan about Epstein as a "high-risk" client, with Staley reportedly defending Epstein to the firm. Recent Department of Justice files also indicate Staley was named as Epstein’s executor in several wills, a fact he disputes. His name appears approximately 8,000 times in Justice Department documents related to Epstein.
