Jes Staley reportedly argued that Jeffrey Epstein had paid his debt to society.
Bloomberg by way of Getty Photographs
Lately ousted Barclays CEO Jes Staley went to bat for convicted intercourse offender Jeffrey Epstein when he ran the funding banking division at JPMorgan, in accordance with a report.
JPMorgan was inspecting whether or not as well Epstein as a shopper due to his 13-month jail sentence tied to soliciting intercourse from a minor, however Staley — who ran the enormous’s funding financial institution — argued that Epstein had paid his debt to society and may stay a shopper, in accordance with the report Wednesday within the Monetary Occasions.
Staley’s efforts got here after Epstein was convicted in 2008, in accordance with the FT. JPMorgan ultimately severed its relationship with Epstein in 2013 — the identical 12 months Staley departed the JPM for a brand new job at a hedge fund earlier than rising to run Barclays in 2015.
Staley’s help for Epstein at JPMorgan underscores his longstanding ties to the disgraced financier — and the way he advocated on Epstein’s behalf nicely earlier than it resulted in Staley’s exit from Barclays late final 12 months.
In November, stories surfaced that Staley and Epstein had exchanged round 1,200 emails throughout Staley’s 30-year tenure at JPMorgan. Some emails revealed questionable and unexplained phrases like “snow white,” in accordance with the FT.
Staley stepped down from Barclays in November after he reviewed preliminary findings from a probe by UK regulators into whether or not he’d mischaracterized his relationship with Epstein as purely skilled, in accordance with the FT. Staley is contesting the findings.
JPMorgan declined to remark to the FT. A spokesman for Staley additionally declined to remark.
Staley has said his relationship with Epstein fizzled following the banker’s departure from JPMorgan.
However even after he left the financial institution helmed by Jamie Dimon, he visited Epstein at his personal island within the Caribbean, “Little Saint James,” in accordance with stories.
Staley labored at BlueMountain Capital from 2013 to 2015 earlier than nabbing the highest job at Barclays in 2015.
In the meantime, Epstein started working with Deutsche Financial institution in 2013, in accordance with the FT, after being reduce off by JPMorgan following Staley’s departure from JPMorgan.
Epstein died in 2019 in jail as he awaited trial on prices he sex-trafficked minors.
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