Investing.com – ADRs of Barclays (NYSE:) fell 1.7% in Monday’s premarket trading as Chief Executive Officer Jes Staley stepped down following a probe by British regulators into his ties with convicted sex offender Jeffrey Epstein.

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Epstein was detained in 2019 summer and committed suicide in August that year, while he awaited trial for sex-trafficking charges.

Barclays made a statement to its stock exchange that it became aware of the preliminary conclusions of the joint investigation regarding Staley’s conversation with the bank concerning Epstein. The bank then passed the information on to regulators in a largely unaltered form.

Staley intends to challenge the results.

“It should be noted that the investigation makes no findings that Mr Staley saw, or was aware of, any of Mr Epstein’s alleged crimes, which was the central question underpinning Barclays’ support for Mr Staley,” Barclays said in its statement.

According to a report by the Financial Times last year, U.K. regulators began to probe Staley’s links with Epstein after JPMorgan (NYSE:) provided them with emails the two exchanged when he was the head of its private bank. Staley, Barclays’ CEO in December 2015 was appointed by JPMorgan (NYSE:). According to other reports, Staley visited Epstein’s private island in December 2015. This suggests that they had a long-lasting social relationship.