LONDON (Reuters) -Barclays said on Monday that chief executive Jes Staley is to stand down following British regulators’ investigations into his dealings with Jeffrey Epstein.
The bank said it was made aware on Friday evening of the preliminary conclusions from the Financial Conduct Authority and the Prudential Regulatory Authority’s investigation into Staley’s characterisation to Barclays of his relationship with Epstein and the subsequent description of that relationship in Barclays’ response to the regulator.
“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 bank said.
Barclays said C.S. Venkatakrishnan will take over as chief executive.
(Reporting by Rachel Armstrong; editing by Carolyn Cohn)
