A former boss of Barclays, who used to be ousted from the financial institution over his hyperlinks to convicted intercourse wrongdoer Jeffrey Epstein, will search to transparent his title in courtroom this week.
Jes Staley used to be compelled out in November 2021 after UK regulators dominated he had did not correctly expose the character and period of his dating with Epstein to the Barclays board.
The episode price Mr Staley, a person with a glittering and rewarding occupation in funding banking, £18m in pay and bonuses and, extra importantly for the 68-year-old, his popularity.
Mr Staley is looking for to overturn a call via the Monetary Behavior Authority in 2023 banning him from keeping a senior place in monetary products and services.
Jes Staley were disciplined via regulators in 2018 over his makes an attempt to unmask a whistleblower he felt used to be unfairly seeking to smear a colleague. However the the most important blow to his place at Barclays used to be his insistence that his dating with Epstein used to be “no longer shut” and had ended earlier than he took up the highest activity at the United Kingdom financial institution.
A cache of emails launched via his former employer JP Morgan urged the connection used to be if truth be told very shut.
E mail exchanges describe time spent in combination at Mr Epstein’s houses in New York and on his personal island in america Virgin Islands.
A now notorious e-mail thread displays Mr Staley remarking to Epstein “that used to be amusing, say hello to Snow White”. Epstein replies “what personality do you want subsequent? To which Mr Staley replies “attractiveness and the beast!”.
There also are allegations that he and Epstein stayed in touch not directly after he took the Barclays activity. Mr Staley’s attorneys insist that such a strikes had been initiated via Epstein and Mr Staley made no try to touch Epstein.
All of this can be aired in a courtroom that may name former regulators and managers as witnesses and lots of have wondered why Mr Staley, who’s now 68 and intensely rich, would wish this exposure far and wide once more.
Jes Staley is a difficult and fiercely proud guy. He loved an overly a hit occupation on Wall Side road and lots of idea he used to be destined to take over on the helm of his previous employer JP Morgan – the largest funding financial institution on the earth.
Internally he used to be well liked by maximum of his banking colleagues. His ill-fated try to unmask a whistleblower he idea used to be smearing an previous colleague, used to be noticed via some – however no longer all – as proof of fierce loyalty to his personal troops.
That willingness to enter combat can be on display within the coming days, however turns out not likely to revive his popularity or long term place to the only he loved earlier than he used to be proven the door at Barclays.
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