The investigation by the Monetary Conduct Authority and the Financial institution of England’s Prudential Regulation Authority was disclosed by Barclays in early 2020 and centered on how Staley had characterised the connection to his employer.
“In view of these conclusions, and Mr Staley’s intention to contest them, the board [of Barclays] and Mr Staley have agreed that he’ll step down from his function as group chief govt and as a director of Barclays,” Barclays mentioned in its assertion on Monday.
“It needs to be famous that the investigation makes no findings that Mr Staley noticed, or was conscious of, any of Mr Epstein’s alleged crimes, which was the central query underpinning Barclays’ help for Mr Staley following the arrest of Mr Epstein in the summertime of 2019.”
With impact from November 1, 2021, C.S. Venkatakrishnan will take over as Barclays CEO, topic to regulatory approval.
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