Barclays chief executive Jes Staley will resign after reports of an investigation into his relationship with Jeffrey Epstein, the bank announced Monday.
\nStaley will be \u2026<\/b>
\nBarclays chief executive Jes Staley will resign after reports of an investigation into his relationship with Jeffrey Epstein, the bank announced Monday. Staley will be replaced by C.S. Venkatakrishnan, Barclay\u2019s head of global markets, the bank said in a statement released Monday. The bank said it was made aware of the preliminary conclusion of the investigation by the U. K\u2019s Financial Conduct Authority and the Prudential Regulation Authority on Friday night, according to the company\u2019s statement. The investigation was into \u201cMr Staley\u2019s characterisation to Barclays of his relationship with late Mr Jeffrey Epstein and the subsequent description of that relationship in Barclays\u2019 response to the FCA,\u201d according to the press release. The investigation did not find evidence that \u201cStaley saw or was aware of any of Epstein\u2019s alleged crimes.\u201d In a personal memo sent to Barclays employees, Staley claimed the investigation was about \u201ca professional relationship I developed earlier in my career,\u201d The New York Times reported. \u201cI do not want my personal response to those matters to be a distraction from the fantastic work you do every day to support our customers and clients,\u201d Staley added. Staley,64, became CEO of Barclays in October 2015 and said his relationship with Epstein ended in 2015, Reuters reported. The bank said it organized a succession plan and identified Venkatakrishnan as the preferred candidate over a year ago. \u201cThe Board has long been confident in Venkat\u2019s capabilities to run the Barclays group and is delighted to have such a strong internal candidate,\u201d the company said. Barclays directed the Daily Caller News Foundation to its Monday statement in response to a request for comment. SUPPORT TRUTHFUL JOURNALISM. MAKE A DONATION TO THE NONPROFIT WND NEWS CENTER. THANK YOU!<\/p>\n