Feb 13, 2020

Barclays and regulators must find speedy solution to Jes Staley

On Thursday, Barclays revealed that the Financial Conduct Authority is digging into the way that Bostonian Mr Staley "Characterised" his historic relationship with the besmirched financier Jeffrey Epstein. Four years ago, Mr Staley twice tried to identify an anonymous whistleblower against advice. Even when Mr Staley was embroiled in a dispute with client KKR for siding with his brother-in-law over a failed deal, they were happy for him to stay on. Barclays employed lawyers to review the issue and said it believed Mr Staley was "Sufficiently transparent" about his links to Mr Epstein and had the board's full confidence. The best and most elegant resolution might be for Mr Staley to step down now rather than wait for judgment.

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