Jes Staley
Jes Staley | |
---|---|
Born | James Edward Staley December 27, 1956 Boston, Massachusetts, US |
Education | Bowdoin College (BA) |
Occupation(s) | Former CEO, Barclays |
Board member of | Institute of International Finance American Museum of Natural History |
Spouse | Debora Nitzan Staley |
Children | 2 daughters |
Relatives | Peter Staley (brother) Edward Staley (grandfather) James Rhyne Killian (grandfather) |
James Edward "Jes" Staley (born December 27, 1956) is an American banker, and the former group chief executive of
Early life
Staley was born on
December 27, 1956 inStaley graduated cum laude from Bowdoin College with a degree in economics.[10]
Career
In 1979, after graduation, Staley joined
In 2013, Staley left J.P. Morgan after more than 30 years to join
In 2015, Staley spent £6.4m buying 2.8m shares in Barclays at 233p. Barclays has a policy that directors should own shares worth four times their salaries, which Staley achieved, as his salary amounted to £1.2m. However, his total remuneration package, including his salary, a fixed pay allowance to avoid an EU cap on bonuses, annual bonuses of up to £2.1m and a long-term incentive plan of £3.2m, was worth £10m in 2015.[21][needs update] In March 2016, he gave his vision for the future of Barclays' investment bank,[22] although the changes he brought until then were not well received by the markets.[23][needs update]
Staley is a former trustee of Bowdoin College, serves on the board of the United States-China Business Council, and is a member of the advisory board of the American Museum of Natural History.[10]
Controversies
Attempt to unmask whistleblower
In 2016, Staley attempted to discover the identity of a
Relationship with Jeffrey Epstein
On October 24, 2015, the Daily Mail published an article saying they had seen emails by Jeffrey Epstein indicating he "began arguing for Mr Staley in financial circles in the summer of 2012" while Barclays was searching for a new CEO. The Times alleged the Daily Mail had received copies of threatening letters from Epstein that were originally sent to Parliament. The article reports that Barclays denied being lobbied by Epstein on behalf of Staley, and that Staley is said to have been unaware that Epstein was backing him for the role.[29] On 26th July, 2017, FOIA responses show that UK Parliamentarians including John Mann and Mark Garnier misled the readers of the Daily Mail in this article. Staley was never challenged by Parliament. Neither Mann nor Garnier subsequently demanded Staley be challenged. [30]
On 26th September, 2019, Joanna Antoniewska of the Information Rights and Information Security (IRIS) Service of Parliament Commons replied to a FOIA and could neither confirm or deny that blackmail material existed. Antoniewska references Section 34 of FOIA stating any related information was privileged. (Search for 'Confirm nor Deny' in the FOIA linked).[31]
In February 2020, the FCA announced an investigation into whether Staley was "fit and proper" to lead Barclays, due to concerns over his previous disclosures of his relationship with Jeffrey Epstein.[32] Staley told Bloomberg TV that "The investigation is actually focused on transparency, and whether I was transparent and open with the bank and with the board with respect to my relationship with Jeffrey Epstein."[33] Staley told colleagues that he expected to leave Barclays by the end of 2021.[34] On 1 November, 2021, Staley announced his departure from Barclays, as a result of his associations with Epstein.[35] It was reported that Staley and Epstein exchanged 1,200 emails over the course of four years. In this correspondence, Staley used a mystery phrase "Snow White", the meaning of which has not been established.[36]
On February 23, 2022, Barclays froze £22 million worth of bonuses for Staley pending investigation into his links to Epstein by the FCA and the PRA.[37][38][39] In January 2023, it was reported that Staley was named in a lawsuit against JP Morgan which alleged that JP Morgan had enabled Epstein's behaviour. The suit alleged Staley knew Epstein was trafficking women and that he personally witnessed Epstein abusing an underage girl.[40][41][42] In an April 2022 article about JPMorgan's ties to Epstein, the Wall Street Journal reported that Staley traveled to Little St. James, Epstein's private island in the Caribbean, in 2009.[43]
In May 2023, in legal papers, Staley claimed that JP Morgan's chief executive Jamie Dimon and he had discussed business with Epstein, despite the fact that Dimon denied under oath ever having involvement with Epstein as a client.[44][45]
In June 2023 it was reported that Staley wrote on December 26, 2009 — while Epstein was on house arrest for procuring a child for prostitution and of soliciting a prostitute in Florida — “Fun tonight. What do we do next?????” Epstein replied saying his driver whom he described as “former dea [Drug Enforcement Administration]” and “armed,” would pick him up in St. Thomas in the Virgin Islands. Epstein continued, “helicopter also available for a tour around , … remember I own the two big marinas.. yacht haven grand, in st thomas and the marina at red hook… you can use my atv’s jet ski ,gym etc.” Later that month Staley wrote to Epstein, “Arrived at your harbor. Someday, we have to do this together.”[46][47][48]
Personal life
Staley met his wife Debora Nitzan Staley[49] soon after starting work in South America, "I was Unitarian Boston American and she was Jewish Brazilian São Paulo ... I was her parents' worst nightmare."[6] The family has two daughters,[50] and maintains residences on Park Avenue, New York City, and Southampton, Long Island.[10] Staley is a Boston Red Sox fan, unsurprisingly.[13] In the past, he has donated money to the Democratic Senatorial Campaign Committee. Staley has also reportedly been a big advocate for diversity since discovering that his brother Peter Staley had been diagnosed with HIV. He helped push the diversity agenda at J.P. Morgan.[51]
As of May 2017, Staley was backing his brother-in-law Jorge Nitzan in a dispute that Aceco, a Brazilian technology company founded by the Nitzan family, has with the private equity firm KKR, also an important client of Barclays. In turn, KKR stopped inviting Barclays to participate in its deal making.[49][52][53]
References
- ^ "Barclays boss Jes Staley in shock exit over Epstein inquiry". BBC News. November 1, 2021. Retrieved November 1, 2021.
- ^ Saunders, Andrew (October 13, 2015). "Barclays hires an American to try and beat the Americans". Management Today.
- ^ "Barclays confirms Staley as new chief". BBC News. October 28, 2015. Retrieved April 10, 2020.
- ^ "Eamonn Holmes 'leaving This Morning to join GB News'". the Guardian. November 12, 2021. Retrieved November 15, 2021.
- ISSN 0140-0460. Retrieved November 15, 2021.
- ^ a b c d McDonald, Duff (April 16, 2010). "The other guy you need to know at J.P. Morgan". CNNMoney.com. Fortune. Retrieved June 1, 2010.
- ^ Hamilton, Lynn (November 22, 1990). "Pq Corp. Names Top Executives". philly. Retrieved October 28, 2015.
- ^ "Peter Staley, AIDS victim". POZ Blogs. June 18, 2008. Retrieved November 10, 2015.
- ^ "Carolyn Staley Obituary (1931-2021)".
- ^ a b c d Corkey, Michael (September 29, 2009). "A Dossier on Jes Staley: J.P. Morgan's Next CEO?". Wall Street Journal. Retrieved June 1, 2010.
- ^ "James E. Staley". Bloomberg Businessweek. May 31, 2010. Archived from the original on June 17, 2012. Retrieved June 1, 2010.
- ^ Comstock, Courtney (March 2, 2010). "The 20 Hedge Fund Superstars Hidden Inside JPMorgan". Business Insider. Retrieved June 1, 2010.
- ^ a b Neate, Rupert (October 16, 2015). "Jes Staley: who is the man tapped to be Barclays' next chief executive?". The Guardian. Retrieved November 29, 2015.
- ^ Comlay, Elinor (September 29, 2009). "JPMorgan reshuffles leadership in succession clue". Reuters. Retrieved June 1, 2010.
- ^ Fitzpatrick, Dan (June 25, 2011). "J.P. Morgan Overhauls Management". Wall Street Journal. Retrieved June 15, 2011.
- ^ "Results of the Annual General Meeting of UBS Group AG". ubs.com. May 7, 2015. Retrieved January 18, 2016.
- ^ "Annual General Meeting 2015 Voting results". ubs.com. May 7, 2015. Retrieved January 18, 2016.
- ^ "CV Jes Staley". ubs.com. January 16, 2015. Retrieved January 18, 2016.
- ^ Treanor, Jill (November 5, 2015). "New Barclays chief Jes Staley spends £6m on shares in bank". The Guardian. Retrieved November 29, 2015.
- ^ "Change to the UBS Board of Directors". ubs.com. October 28, 2015. Retrieved January 18, 2016.
- ^ "New Barclays chief Jes Staley spends £6m on shares in bank". The Guardian. November 5, 2015. Retrieved January 26, 2016.
- ^ Butcher, Sarah (March 1, 2016). "Jes Staley strategy for Barclays investment bank". efinancialcareers. Retrieved March 9, 2016.
- ^ Goodway, Nick (March 2, 2016). "Barklays mauled by markets after new chief executive Jes Staley wields the axe". The Independent. Retrieved March 9, 2016.
- ^ White, Lawrence. "Barclays chief Staley survives whistleblowing inquiry with fines". U.S. Retrieved April 20, 2018.
- ^ "The CEO of Barclays is being fined for trying to unmask an anonymous whistleblower". Business Insider. Retrieved April 20, 2018.
- ^ Colchester, Max. "Barclays CEO Jes Staley fined, but keeps job". MarketWatch. Retrieved April 20, 2018.
- ^ "Barclays boss Jes Staley fined £642,000 over whistleblower scandal". The Guardian. May 11, 2018. Retrieved May 11, 2018.
- ^ Treanor, Jill (May 12, 2017). "Barclays boss Jes Staley fooled into email exchange with prankster". The Guardian. Retrieved April 10, 2020.
- ^ "MPs expected to quiz Barclays chief over links to billionaire sex offender". thetimes.co.uk. November 2, 2015.
- ^ "I'd like a transcript or recording of the Q&A put to Jes Staley by the Treasury Select Committee". WhatDoTheyKnow.com. October 8, 2017.
- ^ "https://www.whatdotheyknow.com/request/emails_leaked_to_the_daily_mail". WhatDoTheyKnow.com. August 7, 2019.
{{cite web}}
: External link in
(help)|title=
- ^ Clark, Simon (February 13, 2020). "Barclays CEO Under Investigation Over Links to Jeffrey Epstein". The Wall Street Journal. Retrieved February 13, 2020.
- ^ Spezzati, Stefania; Edwards, Anna; Miller, Matthew (February 13, 2020). "Barclays Says U.K. Is Probing CEO Jes Staley's Ties to Jeffrey Epstein". Bloomberg. Retrieved February 13, 2020.
- ^ "Barclays set to launch CEO search - FT". Reuters. February 24, 2020. Retrieved February 24, 2020.
- ^ Thompson, Mark (November 1, 2021). "Barclays CEO Jes Staley quits after an investigation into links with Jeffrey Epstein". CNN. Retrieved November 1, 2021.
- ^ "Jes Staley used mystery phrase 'snow white' in emails with Jeffrey Epstein". The Telegraph. November 12, 2021. Retrieved November 19, 2021.
- ^ "Barclays freezes ex-boss's bonus amid Epstein links". BBC News. February 23, 2022.
- ^ Hirtenstein, Anna (February 23, 2022). "Barclays Freezes Jes Staley's Deferred Pay Until Epstein Probe Concludes". The Wall Street Journal. Retrieved February 23, 2022.
- ^ Makortoff, Kalyeena (February 23, 2022). "Barclays freezes £22m worth of bonuses for ex-boss Staley amid Epstein inquiry". The Guardian. Retrieved February 23, 2022.
- ^ "Ex-Barclays boss saw Jeffrey Epstein abuse young women, US lawsuit claims". the Guardian. January 18, 2023. Retrieved January 19, 2023.
- ^ "Jes Staley 'Personally Observed' Epstein's Abuse, Woman Suing JPMorgan Claims". Bloomberg.com. January 17, 2023. Retrieved January 19, 2023.
- ISSN 0307-1235. Retrieved January 19, 2023.
- ^ Benoit, David (April 21, 2023). "JPMorgan's Ties to Jeffrey Epstein Were Deeper Than the Bank Has Acknowledged". The Wall Street Journal.
- ISSN 0099-9660. Retrieved June 1, 2023.
- ISSN 0261-3077. Retrieved June 1, 2023.
- ^ Jeffrey Epstein claimed to have set up meetings with senior UK ministers
- ^ V.I. Releases New Exhibits Detailing JPMorgan’s Epstein Ties
- ^ Epstein Connected JPMorgan Exec to Netanyahu, Prince Andrew
- ^ a b Rob Davies (May 3, 2017). "Barclays chief clashes with private equity firm over family dispute". The Guardian. Retrieved May 3, 2017.
- ^ "Alexa Staley '11 Shares Her 'Passion for Understanding'". dailysun.bowdoin.edu. Retrieved February 28, 2018.
- ^ "10 things you didn't know about Jes Staley (and may need to)". eFinancialCareers. October 13, 2015. Retrieved April 20, 2018.
- ^ Bautzer, Tatiana (October 12, 2016). "KKR battling over Brazil acquisition with sellers, bank: sources". Reuters. Retrieved May 3, 2017.
- ^ "KKR Said to Write Off First Brazil Deal Amid Aceco Legal Battles". Bloomberg. October 12, 2016. Retrieved May 3, 2017.
External links
Media related to James Edward "Jes" Staley at Wikimedia Commons