One of the world’s major banks, Barclays, is headquartered in London, and American banker Jes Staley has served as its chief executive officer (CEO) since 2015. The CEO of Barclays, James Edward Staley, 64, is the son of Paul R. Staley, CEO of a major chemical company, and the grandson of yet another prominent American businessman.
Jes Staley’s Net Worth
Wallmine, a platform for researching and monitoring stock market activity, reveals that Jes Staley, group chief executive and executive director of Barclays Plc, earned £5,929,000 in 2017 and was the company’s highest-paid executive. This puts Staley’s total wealth at $120 million. CS Venkatakrishnan, the current head of global markets at Barclays, will succeed Staley. You Can See Tweet Below Retaed This.
Mr. Jes Staley, Group CEO, @Barclays called on Prime Minister @narendramodi. pic.twitter.com/tZt580hp3N
— PMO India (@PMOIndia) July 20, 2016
According to Barclays, he has been designated as the top choice in succession planning for over a year. His annual salary will be £2.7 million, split evenly between cash and Barclays shares, with a pension contribution of £135,000. The new leader may be eligible for a £2.5 million annual bonus and a £3.8 million long-term bonus in the form of stock options. You Can See About This Danny Trejo Net Worth.
Who is Jes Staley?
The CEO of Barclays, James Edward Staley, 64, is the son of Paul R. Staley, CEO of a major chemical company, and the grandson of yet another prominent American businessman. Staley served as CEO of New York-based J.P. Morgan for 34 years before taking the helm at Barclays in December 2015. Prior to that, he was a managing partner at asset management fund firm BlueMountain Capital.
During his tenure at J.P. Morgan Asset Management, Staley watched client assets grow from $605 billion to roughly $1.3 trillion, as reported by CNN. On Monday, 1 November, the results of a probe into the bank chief’s ties to convicted sex offender Jeffrey Epstein were made public, prompting the sudden departure of Staley from Barclays.
Why Is Barclays Ceo Staley Stepping Down?
According to the preliminary results of an investigation into his role as private banker to disgraced businessman and convicted sex offender Jeffrey Epstein, Barclays head Jes Staley has resigned.
Mr. Staley received the initial draught of the report from the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) last Friday. The final report is due next month. The report’s findings—that the bank and Mr. Staley downplayed his relationship with Epstein—prompted the CEO to resign, and he has since announced that the report’s findings will be fought.
From what we can see, the first draught implies that, as Epstein’s private banker, he downplayed his involvement in the mogul’s business dealings.
The probe “makes no findings that Mr. Staley saw, or was aware of, any of Mr. Epstein’s alleged crimes,” as Barclays put it, “which was the primary question supporting Barclays’ support for Mr. Staley following the arrest of Mr. Epstein in the summer of 2019.
The bank’s board expressed “disappointment at this outcome,” but the report’s specifics remain classified. The bank has announced that Mr. Staley will be given a payout of £2.5 million and other benefits for a period of one year.
No judgment has been made about the potential further monetary compensation and repatriation expenses he may be entitled to. The Financial Conduct Authority and the Prudential Regulation Authority both passed on providing a statement.
Mr. Staley “truly regrets” the seven years he spent as Epstein’s private banker at J.P. Morgan following the financier’s conviction for s*x offenses Must Read About This Jim Sinegal Net Worth.
His Last Contact With Epstein Had Been In The Autumn Of 2015
Shortly before he started working for Barclays in the fall of 2015, he and his wife sailed to Epstein’s private island for lunch. This was their final communication with Epstein. After he started working at the bank in December 2015, he claimed he stopped talking to Epstein.
Barclays chief executive Jes Staley is to stand down following Jeffrey Epstein probe https://t.co/dh6LYvQxJ5
— Ian Fraser (@Ian_Fraser) November 1, 2021
After Epstein’s death in the United States and subsequent allegations of Mr. Staley’s association while operating J.P. Morgan’s private bank for affluent clients, the FCA began looking into the company because of a letter the company issued to the watchdog. You Can Read About This How Jackie Harry Built His Fortune?.
Staley was fined £642,000 by the FCA and PRA in 2018 after it was determined that he had made several attempts to reveal the identity of a company whistleblower.
Regulators said that Staley had not exercised “care and diligence,” therefore Barclays docked his bonus by half a million pounds. The Active News.Com is where you may go to get the most recent information.