Timeline: Barclays CEO Jes Staley
1979: James Jes Staley joins commercial lender and bond dealer Morgan Guaranty, a forerunner to JPMorgan.
1999: Staley was appointed boss of JPMorgans private bank, whose many clients included financier Jeffery Epstein, who referred “dozens” of clients to Staley, the New York Times reported.
2001: Was promoted to CEO of JPM asset management.
2008: Epstein is imprisoned in New York for soliciting prostitution. Staley visited Epstein in prison, NYT reports.
2009: Staley is made boss of the whole investment banking arm of JPMorgan.
Jan 2013: Staley leaves job as chairman of JPMorgans investment banking arm to join hedge fund Blue Mountain Capital Management.
Apr 2015: Staley visits Epsteins private island in the Caribbean for several hours with his wife, Bloomberg has since reported. Staley now says his relationship with Epstein “began to taper off as I left JPM and contact became much less frequent in 2013, 2014” and ended in 2015
May 2015: Barclays is fined £284.4mln by the FCA as part of a £1.5bn settlement with the City watchdog and four US regulators. Barclays was also ordered to pay $115m to the US Department of Justice because the activity violated agreements made in the aftermath of a US$450mln fine for Libor rigging in 2012.
Jul 2015: Barclays board fires CEO Antony Jenkins, as they and major investors were apparently not happy with the slow pace of turnaround.
Oct 2015: Barclays hires James Jes Staley from Blue Mountain, its fifth chief executive in seven years.
Jun 2016: Two anonymous letters are received by Barclays that claimed to be from a shareholder, “John Q. Public”, raising concerns over the appointment of a staff member. The letter contained “various allegations, some of which concerned Mr Staley”, it is later revealed.
May 2018: Staley is fined £642,430 by UK regulators the Financial Conduct Authority and the Prudential Regulation Authority and had £500,000 docked from his pay by Barclays over his attempt to unmask the identity of an anonymous whistleblower. A statement says Staley “failed to act with skill, care and diligence”. Staley said he felt the the letter had tried to “assassinate” the character of a senior executive, Tim Main, a former colleague of his from JP Morgan.
Dec 2018: US regulators fine Barclays US$15mln over the whistleblower issue, saying said the bank had “shortcomings in governance, controls and corporate culture relating to Barclays whistleblowing function” and stressing how vital whistleblowers are vital to uncovering and addressing intentional wrongdoing.
Aug 2019: Jeffrey Epstein kills himself in prison as various lawsuits are filed by those alleging he had assaulted them.
Late 2019: With reports highlighting Staleys historical professional relationship with Epstein, as part of Barclays assessments of its directors it asks him for more assurances, it has now revealed. Staley is said to have given Read More – Source