Barclays stunned the City today by revealing boss Jes Staley has quit the banking giant in response to an investigation by UK regulators into his dealings with Jeffrey Epstein, the American financier and convicted sex offender.
Staley, who has run Barclays since December 2015, has stepped down in order to contest the findings of the two-year investigation by the Financial Conduct Authority. He will be replaced by C.S. Venkatakrishnan, who is current head of global markets.
Staley had business dealings with Epstein while at JP Morgan and Barclays said the investigation made “no findings that Staley saw, or was aware of, any of Epstein's alleged crimes”.
