Barclays CEO Staley resigns after Epstein investigation

© Reuters. FILE PHOTO: Barclays & # 39; CEO Jes Staley arrives at 10 Downing Street in London, UK on January 11, 2018. REUTERS / Peter Nicholls

By Rachel Armstrong

LONDON (Reuters) – Barclays said Monday that board chairman Jes Staley will step down following UK regulators' investigations into his dealings with Jeffrey Epstein.

The bank said it was briefed on Friday evening of the preliminary conclusions from the Financial and Regulatory Authority Prudential (NYSE 🙂 on Staley's characterization Barclays (LON 🙂 his relationship with Epstein and the subsequent description of that relationship in Barclays' response to the regulator.

"Given these conclusions and Mr. Staley's intention to contest them, the Board of Directors and Mr. Staley have agreed that he will step down from his roles as Group Chief Executive and Director of Barclays," the bank said.

Barclays said last year that UK financial regulators are exploring links between Staley and Epstein, who killed themselves while awaiting a sex offense trial. Staley previously said that his relationship with Epstein ended in late 2015 and that he regretted having had a relationship with him.

The FCA and PRA said in a statement they could not comment on the Epstein investigation.

Barclays said C.S. Venkatakrishnan will take over the management.

"The board of directors is disappointed with this result. Mr. Staley has successfully led the Barclays Group since December 2015 with real dedication and skill," the bank said in a statement.

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