Jes Staley is a former senior JPMorgan Chase executive who became the central figure in the bank’s long-term financial relationship with Jeffrey Epstein — and who later became CEO of Barclays until his resignation in 2021 following a regulatory investigation into his Epstein ties.
JPMorgan Relationship
Staley worked at JPMorgan for over three decades, eventually becoming head of investment banking and later CEO of JPMorgan’s asset management and private banking divisions. During his tenure, he became Epstein’s primary relationship manager at the bank.
Court filings and testimony revealed that Staley and Epstein exchanged approximately 1,200 emails between 2008 and 2012 — during the period after Epstein’s Florida sex offender conviction. The emails were described as containing references to young women consistent with trafficking. JPMorgan’s internal compliance team flagged concerns about Epstein multiple times, but Staley was credited with preserving the relationship.
Internal Warnings Ignored
Documents filed in civil litigation revealed that JPMorgan employees raised alarms about Epstein’s activities as early as 2006. Rather than exiting the relationship, JPMorgan continued to process cash transactions for Epstein that compliance staff described as consistent with sex trafficking. Staley’s advocacy for retaining Epstein as a client was a key factor.
Barclays and Regulatory Investigation
Staley left JPMorgan in 2013 and became CEO of Barclays in 2015. The UK Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) investigated Staley’s characterization of his relationship with Epstein — specifically whether he had misled Barclays’ board about the nature of the relationship.
In October 2021, Staley resigned as Barclays CEO before the regulators published their preliminary findings.
Civil Litigation
The U.S. Virgin Islands named Staley in civil litigation against JPMorgan, claiming he was aware of Epstein’s trafficking activities. Staley denied knowledge of illegal conduct. JPMorgan settled with the USVI and with victims for $290 million combined in 2023.