The CEO of the publicly traded U.K. bank Barclays, Jes Staley will depart both his role and the corporate board effective immediately after following the preliminary conclusions of an investigation by British regulators. They did some research on how Staley had characterized his relationship with the disgraced financier to Barclays. According to Bank, Staley had planned to contest the findings.
The bank statement said,
“ In view of those conclusions, and Mr. Staley’s intention to contest them, the board and Mr. Staley have agreed that he will step down from his role as group chief executive and as a director of Barclays. the investigation makes no findings that Mr. Staley saw, or was aware of, any of Mr Epstein’s alleged crimes, which was the central question underpinning Barclays# support for Mr. Staley following the arrest of Mr Epstein in the summer of 2019.”
The company’s board initially backed Jes announcing in a statement that “Mr. Staley has run the Barclays Group successfully since December 2015 with real commitment and skill.”
Barclays Statement On Jes Staley (©: Website Of Barclays)
Back in 2019, Staley himself had expressed his regret for his ties to Epstein saying, “ I thought I knew him well, and I didn’t. I'm sure with the hindsight of what we all know now, I deeply regret having had any relationship with Jeffrey Epstein.”
As per the reports, Staley and his wife had visited Epstein’s Caribbean retreat in 2015, and Epstein had referred rich clients to Staley while he was working at JP Morgan in the 2000s. Another visit record was when Epstein was sentenced for soliciting prostitution from a minor, roughly a decade ago.
Reportedly, Epstein had even scored an invitation for Staley’s daughter, Alexa to Kimbal Musk’s birthday party in 2012.
In conclusion, the high profile businessman, Jes Staley will step down and will be succeeded by C.S. Venkatakrishan who is also known as Venkat assuming regulators sign off on the appointment.
With the changes, the stock was down by less than 1 percent as of 10:30 a.m ET on Monday which didn’t make Barclays shareholders worried.
Many other high-profile businessmen were also toppled by their association with Epstein such as CEO Leon Black stepping down from his position in Apollo Global Management after it was found that he paid Epstein $158 million for creative and disruptive advice. U.K’s Prince Andrew, associate Ghislaine Maxwell and Microsoft co-founder Bill Gates are also other powerful men who met Epstein after his conviction.
Net Worth Of Jes Staley
The 64-year-old businessman has an estimated net worth of around £4 million. It is reported that Mr. Staley has received a salary of §4 million for 2020 and an annual bonus of £843,000. He had donated £392,000 of his salary to Barclays coronavirus fund last year. His salary was §5.9 m including an annual bonus of £1.7m bonus.
Also, he had received up to £8.24 million and as per the reports, even if he steps down he is set to receive his full 12 months' pay that totals $2.4 million. Furthermore, he will also receive a pension allowance of £120,000 for the year and has many other benefits as well.
He worked at JP Morgan Co and served as head of corporate finance in the bank’s Latin America division from 1980 to 1989. He worked involving himself in the leadership of businesses such as equities, private banking, and asset management for more than 30 years. He served as managing partner at BlueMountain Capital prior to his appointment at Barclays after leaving JP Morgan in 2013.
Jes Staley Married Life With Wife Debbie Staley
The businessman has a lovely wife, Debbie Staley with whom he shares two beautiful daughters, Sophia and Alexa. His wife is an interior designer and had overseen the couple’s custom-made 90ft boat, named the Bequia after the Caribbean island where they had their Honeymoon.
Her family co-founded the data enter company Aceco and eventually sold it to KKR in 2014 pocketing £124 million as per the Wall Street Journal records.