Jes Staley, former Barclays CEO and head of JP Morgan's private bank, lost his appeal against a lifetime ban from senior management roles in the City due to his "fairly close professional relationship" with convicted child sex offender Jeffrey Epstein. The Financial Conduct Authority (FCA) found Staley misled them about the extent of their relationship, which included holidays on Epstein's private island, flights on his plane, and continued contact even after Epstein's 2008 conviction. The tribunal upheld the ban, citing Staley's inconsistency and lack of remorse.
High flyer to pariah: the saga of Epstein-linked banker Jes Staley
Jes StaleyJeffrey EpsteinBarclaysJP MorganBusinessFinancial Conduct AuthorityFinancial sectorBanking
AI Summary
TL;DR: Key points with love ❤️Jes Staley, former Barclays CEO and head of JP Morgan's private bank, lost his appeal against a lifetime ban from senior management roles in the City due to his "fairly close professional relationship" with convicted child sex offender Jeffrey Epstein. The Financial Conduct Authority (FCA) found Staley misled them about the extent of their relationship, which included holidays on Epstein's private island, flights on his plane, and continued contact even after Epstein's 2008 conviction. The tribunal upheld the ban, citing Staley's inconsistency and lack of remorse.
Trending- 1 1999: Jes Staley became head of JP Morgan’s private bank, developed relationship with Jeffrey Epstein.
- 2 2005: Staley took family on first trip to Epstein’s private island.
- 3 2006: Epstein arrested in Florida.
- 4 2008: Epstein sentenced to 18 months in jail; Staley emailed Epstein during financial crisis.
- 5 July 2009: Epstein released on house arrest; Staley visited Epstein in prison work release program.
- 6 September 2009: Epstein told Staley a "family meeting was required" due to an "abusive reporter." Staley promoted to lead JP Morgan’s investment bank.
- 7 November 2009: Staley visited Epstein’s ranch in New Mexico.
- 8 December 2009: Staley and Epstein met in person in NYC.
- 9 July 2010: Cryptic "Snow White" and "Beauty and the Beast" email exchange.
- 10 March 2011: Epstein and Staley exchanged "family" messages.
- 11 2012: Epstein hired London lobbyist for "Project Jes" to make Staley Barclays CEO.
- 12 Early 2013: Staley left JP Morgan for Blue Mountain Capital.
- 13 January 2015: Staley emailed Epstein: "The strength of a Greek army was that its core held shoulder to shoulder..."
- 14 April 2015: Staley had last in-person meeting with Epstein on his private island.
- 15 October 2015: Staley cut direct contact with Epstein after strong advice from Barclays.
- 16 February 2017: FCA alleged communication continued via Staley's daughter until this time.
- 17 2018: Staley fined £642,000 for trying to unmask a whistleblower.
- 18 July 2019: Epstein arrested on child sex trafficking charges, found dead weeks later.
- 19 October 2019: Barclays told FCA Epstein and Staley "did not have a close relationship."
- 20 2023: Staley banned from senior management roles in the City by FCA.
- 21 March (this spring): Staley fought ban in a two-week tribunal hearing in London.
- 22 Thursday (current article date): Judges ruled in FCA’s favor, upholding lifetime City ban.
- Jes Staley banned for life from senior management roles in the City
- Lost £18m worth of pay (reduced to £1.1m penalty)
- Damaged reputation
- Legal costs
- Public scrutiny of Epstein's associates
What: Former Barclays CEO Jes Staley's appeal against a lifetime ban from senior financial roles was rejected due to his close ties with Jeffrey Epstein and misleading the FCA.
When: Tribunal ruling on Thursday; events span from 1999 to 2025.
Where: London (tribunal hearing), Manhattan, Palm Beach (Epstein's homes), Little St James (Epstein's private island), New Mexico (Epstein's ranch).
Why: Staley maintained a close relationship with Jeffrey Epstein, a convicted child sex offender, and allegedly misled the Financial Conduct Authority about the nature and duration of their contact, leading to his ban.
How: Staley's relationship with Epstein involved professional and personal interactions, including holidays and communication, which continued even after Epstein's legal troubles. The FCA investigated, found Staley misled them, and imposed a ban, which was upheld by a tribunal.