Former Barclays CEO Jes Staley Admits to Sexual Encounter with Epstein Associate in Court Testimony
Former Barclays CEO Jes Staley admitted in court to having a sexual relationship with a member of Jeffrey Epstein’s staff. His testimony came on the third day of his appeal against a proposed financial services ban.
In 2023, Britain’s Financial Conduct Authority (FCA) announced plans to ban Staley from financial services and impose a fine of 1.8 million pounds ($2.3 million). The regulator accused him of misleading authorities about his relationship with Epstein. Staley is currently giving evidence at London’s Upper Tribunal to contest the decision.
The 68-year-old banker, who previously served as head of JPMorgan’s private banking division, denied any knowledge of Epstein’s “monstrous activities.” However, the FCA’s legal counsel, Leigh-Ann Mulcahy, questioned him about prior testimony in a lawsuit filed by his former employer, JPMorgan.
JPMorgan was sued by the U.S. Virgin Islands for allegedly ignoring Epstein’s sex trafficking operations. In response, the bank filed a lawsuit against Staley before eventually settling the case. As part of that litigation, Staley was asked about engaging in sexual intercourse with a woman at Epstein’s brother’s apartment in New York.
Staley confirmed that Epstein had introduced him to the woman and described the encounter as consensual. “She was a part of his staff as I recall,” he stated in court.
The FCA cited various pieces of evidence pointing to Staley’s close relationship with Epstein, including over 1,000 emails exchanged between them. In these emails, Staley referred to Epstein as “family” and described their friendship as “profound.”
One notable email chain from 2010 included a cryptic exchange where Staley wrote to Epstein, “That was fun. Say hi to Snow White.” Epstein responded by asking, “What character would you like next?” to which Staley replied, “Beauty and the Beast.”
When questioned about these emails, Staley claimed he had no recollection of them. Mulcahy countered, stating: “These are not emails that are consistent with a purely professional relationship… they were personal in nature, weren’t they?” Staley maintained his stance, responding, “I do not recall those emails.”
The FCA also pointed to a 2019 letter sent by Barclays Chair Nigel Higgins to the regulator. The letter, issued after Epstein’s arrest, contained two statements the FCA deemed misleading:
- That Staley “did not have a close relationship” with Epstein.
- That their last contact occurred “well before he joined Barclays in 2015.”
Staley insists both statements were accurate, despite the FCA’s claims to the contrary.
Staley’s testimony is expected to conclude on Friday as he fights to overturn the financial services ban. His legal battle continues to raise serious questions about the extent of his ties with Epstein and his role in the broader scandal.
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