Epstein is also known to have socialized with former U. Presidents Donald Trump and Bill Clinton , both of whom have sought to distance themselves from Epstein, insisting they knew nothing of his crimes. Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown, commented on Monday that "'the repercussions from the Jeffrey Epstein scandal stretch far and wide, and now Barclays finds itself at the centre of the storm. Correction: This story has been updated to accurately describe Jeffrey Epstein's accrued wealth.
Skip Navigation. Key Points. Venkatakrishnan known as Venkat , currently head of global markets at Barclays, is set to take over as chief executive with immediate effect. The bank said the investigation had not found that Staley "saw, or was aware of, any of Mr Epstein's alleged crimes. VIDEO Shares of Barclays were trading 1. Venkatakrishnan, widely known as Venkat, who was previously Head of Global Markets. Here are five facts about Venkat. Venkat is one of a cadre of Barclays senior executives poached from rival JPMorgan along with Staley.
They include Global Head of Investment Banking Paul Compton, who was also Staley's right-hand man in the reorganisation and streamlining of Barclays' various group entities in recent years. Although Staley's departure is sudden, the British lender says it has had succession planning "in hand for some time". The bank said in its stock exchange announcement on Monday that it had reviewed potential external candidates for the top role but identified Venkat as its preferred candidate over a year ago.
If Staley is found to have misled regulators he could face a fine, a ban from Britain's financial industry or both. Staley dealt with Epstein during his long career at JPMorgan, where Epstein was a major private banking client until A college dropout who styled himself as a brilliant financier, Epstein socialised in elite circles, including with former and future U.
In , he was registered as a sex offender but continued to maintain ties with powerful players in business and finance. It reported that Staley visited Epstein in prison when he was serving a sentence between for soliciting prostitution from a minor, while Bloomberg reported he visited Epstein's private island in Staley told reporters last February that his relationship with Epstein had "tapered off significantly" after he left JPMorgan in , and that he had not seen the disgraced financier since taking over as CEO of Barclays in I'm sure with hindsight of what we all know now, I deeply regret having had any relationship with Jeffrey Epstein," he said at the time.
Epstein's links with prominent men have come back to haunt some of them. O co-founder Bill Gates has said it was a "huge mistake" to spend time with the financier.
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