Former Barclays CEO Jes Staley Interviewed by US Lawmakers Over Jeffrey Epstein Ties

Former Barclays boss Jes Staley appeared before by US lawmakers on Thursday in a closed-door interview about his past ties to the convicted child sex offender Jeffrey Epstein.

Staley, who spent more than three decades at JPMorgan Chase before joining Barclays in 2015, is the latest in a series of high-profile figures to appear in front of the House committee on oversight and reform as part of its investigation into Epstein, who died in prison in August 2019 while awaiting trial over child sex-trafficking charges.

A transcript of Staley’s interview is expected to be released at a later date. The panel has released transcripts or videos of interviews with previous witnesses, including Bill and Hillary Clinton and Bill Gates. It is also expected to release a transcript of its recent exchange with Goldman Sachs’ former top lawyer Kathyrn Ruemmler.

Staley’s ties with the well-connected billionaire spelled the end of his career, with the American banker having resigned as the chief executive of Barclays in November 2021 after UK regulators launched an investigation into Staley’s ties to Epstein and Barclays said the pair “did not have a close relationship”.

However, the investigation by Britain’s Financial Conduct Authority, triggered by a cache of 1,200 emails from Staley’s former employer JP Morgan, concluded that the pair were “indeed close” and had a relationship that “went beyond one that was professional in nature”. The former Barclays chief was eventually banned from taking any job in the UK’s financial sector for playing down those ties.

Barclays said in a recent statement that the FCA concluded the bank was also “misled by Jes Staley”. The bank added that its own internal investigation was “based on the information that was available to us at the time”.

Staley unsuccessfully tried to challenge the regulator’s ruling, resulting in a court hearing that publicly detailed Epstein’s role in Staley’s life.

During that hearing, Staley admitted to having sex with a member of Epstein’s staff in New York but agreed with a lawyer during cross-examination that he would describe the intercourse as “consensual”.

Judges ultimately sided with the FCA, upholding its ban and scuppering efforts to restore Staley’s reputation. He also lost out on £18m ($24m) worth of pay and bonuses from Barclays as a result of the ruling.

After losing his legal challenge, Staley said he was “disappointed” by the outcome but was “never dishonest”. He previously said of Epstein in 2020, “obviously I thought I knew him well, and I didn’t” and “with hindsight of what we all know now, I deeply regret having had any relationship with Jeffrey Epstein.”

Staley originally met Epstein in 2000 after he became head of JP Morgan’s private bank, where Epstein was a client. He remained in touch with Epstein for several years after the financier pleaded guilty to state charges in Florida of solicitation of prostitution and of solicitation of prostitution with a minor, even visiting Epstein while he was serving his sentence and out on work release.

Staley has said that their relationship tapered off after he left JP Morgan, with the two men meeting for a final time in 2015, when Staley took his own yacht, the Bequia, to visit Epstein’s private island.

In March 2023, JPMorgan Chase sued Staley, arguing that he should be held liable for any financial penalties the bank faces from lawsuits accusing the bank of helping to facilitate Epstein’s sex trafficking. Later that year, the two sides reached a settlement, of which the terms are confidential.

But over the last year, documents released by the US Department of Justice have renewed scrutiny of Staley’s ties to Epstein. They included files, reported by the Guardian, showing that justice department prosecutors had reviewed allegations of rape and serious bodily harm against a woman by Staley. There is no evidence that prosecutors decided to pursue the allegations. Staley has denied any wrongdoing and has never been charged with a crime related to the allegations.

Staley’s US lawyers were contacted for comment.