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Barclays CEO Staley to stand down following Epstein investigation -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO: Jes Staley, Barclays CEO arrives at 10 Downing Street London on January 11, 2018, Britain. REUTERS/Peter Nicholls

LONDON (Reuters), Barclays has announced that Jes Steley, the chief executive, is to resign after British regulators investigated his transactions with Jeffrey Epstein.

The bank stated that it had been made aware Friday evening by the Financial Conduct Authority (NYSE:) Regulatory Authority of the preliminary conclusions regarding Staley’s characterisation. Barclays (LON:) His relationship with Epstein, and how it was described in Barclays’ reply to the regulator.

According to the bank, “In the light of these conclusions, and Mr Staley’s intentions to contest them,” he resigned from his roles as Group Chief Executive officer and director of Barclays.

Barclays said C.S. Venkatakrishnan takes over the chief executive.

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