Jes Staley Epstein Emails Expose Barclays and JP Morgan Links

Jes Staley, the former CEO of Barclays, had a close relationship with Jeffrey Epstein, the convicted sex offender.

Staley and Epstein exchanged over 1,000 emails, which were uncovered by investigators.

These emails reveal a deep connection between Staley and Epstein, including invitations to Epstein's island and discussions about business ventures.

Staley's emails to Epstein were often brief and cryptic, but they suggest a level of familiarity and trust between the two men.

Jes Staley and Jeffrey Epstein exchanged extensive email communications, which continued even after Epstein was serving his custodial sentence.

These emails were written in a notably warm tone, indicating a close relationship between the two men.

One of the messages from Staley to Epstein reads: "I owe you much. And I deeply appreciate our friendship. I have few so profound."

The Financial Sector has been rocked by the release of Jes Staley's emails with Jeffrey Epstein. Jes Staley, the CEO of Barclays, had a close personal relationship with Epstein, which he failed to disclose to the FCA.

Worth a look: Jes Staley Net Worth

The FCA had asked Barclays in August 2019 if they had done anything to ensure there was no impropriety in Staley's relationship with Epstein. Staley described a letter written by Barclays to the FCA as "fair and accurate", but emails showed he had described Epstein as one of his "deepest" and "most cherished" friends.

Staley had been in contact with Epstein in the days leading up to his appointment as CEO of Barclays in 2015, despite saying he had had no contact with Epstein before joining the bank.

You might like: James E Staley Barclays

The financial sector has been dealing with some serious issues lately.

Therese Chambers, joint executive director of enforcement and market oversight at the FCA, said that a chief executive needs to exercise sound judgement and set an example to staff at their firm.

A diversity code has been launched for the UK investment sector to promote greater diversity and inclusion.

Finance regulator is consulting on tougher conduct rules, which could have a significant impact on the industry.

Barclays' CEO, Jes Staley, has been in hot water over his relationship with Jeffrey Epstein.

Staley described Epstein as one of his "deepest" and "most cherished" friends, despite initially claiming to have no close relationship with him.

The FCA found that Staley recklessly misled them and acted with a lack of integrity by not correcting the misleading statements in a letter to the regulator.

Staley reached a settlement with JP Morgan over claims that he failed to fully disclose the extent of his relationship with Epstein while an employee.

In 2018, Staley was fined £642,000 by the FCA over his handling of a whistleblower case.

Between July and October 2015, Staley discussed with Epstein his recruitment to the top job at Barclays.

Staley and Epstein had a peculiar communication style, with Epstein once telling Staley to only phone him, not email.

Staley sent blank emails on August 21 and September 4, with subject headings asking Epstein to call him.

On October 4, Staley wrote to Epstein, telling him to "Cross your toes!!!" - a lighthearted comment amidst serious discussions.

The Barclays nominations committee approved Staley's appointment on October 8, with Staley informing Epstein that he should have the contract by the weekend.

At the time, Staley felt comfortable confiding in Epstein about this significant career matter.

Epstein was a JPMorgan client for 13 years, from 2000 to 2013.

Staley, a high-ranking executive, exchanged over 1,200 emails with Epstein between 2008 and 2012, some of which contained sexual content.

Epstein's estate, worth $577 million, was left behind after his death in a Manhattan jail cell in August 2019.

JPMorgan is seeking $80 million in payback from Staley for his involvement with Epstein.

Staley spent 6 years as Barclays' chief, starting in 2015, before stepping down in November 2021 due to regulatory probes.

Barclays froze $26 million in bonus payouts to Staley in 2022 while he was being probed in the Epstein case.

Epstein was also a client of Deutsche Bank, with a 5-year relationship between 2013 and 2018.

Staley's relationship with Epstein was at the center of the FCA's case against him. He allegedly had a close relationship with Epstein, despite claiming otherwise in a letter to the regulator.

Staley's interactions with Epstein included anchoring his boat at a marina near Epstein's island in January 2010 and staying at Epstein's ranch in New Mexico in November 2009. These trips had no obvious business or professional purpose.

Staley also joined a birthday dinner for Epstein in Florida and regularly visited Epstein's home in New York. He justified visiting Epstein while he was on work release during his prison sentence because he was a "loyal person".

The FCA found that Staley's handling of the situation was a "very serious failure of judgment" that involved a failure to act with integrity.

You might like: New Jersey Student Loan Program

Barclays and JP Morgan played a significant role in the Jes Staley Epstein emails controversy.

Barclays CEO Jes Staley had a close relationship with Epstein, having exchanged over 1,200 emails with him, some of which were flagged by the bank's compliance team.

In 2020, JP Morgan discovered that Staley had been emailing Epstein, and they immediately notified Barclays.

Staley's relationship with Epstein was first revealed in a 2021 report by the UK's Financial Conduct Authority (FCA).

For your interest: Jes Staley

The FCA found that Jes Staley was misleading when approached by journalists about his relationship with Epstein shortly after being named chief executive.

Lawyers working for Barclays drafted a statement to a newspaper, saying Epstein was "at best an acquaintance", but the original statement still went out despite Staley's request to change it.

Staley replied "no worries" when told the original statement had been published, showing a lack of concern about the inaccuracy.

The statement also included an inaccurate claim that Staley had had no contact with Epstein or discussed his impending appointment with him that year.