I stayed loyal to convicted Epstein, admits former Barclays boss Jes Staley

By INDERDEEP BAINS

Updated: 23:22 GMT, 11 March 2025

Jes Staley yesterday admitted that he had remained ‘loyal’ to paedophile Jeffrey Epstein after he was convicted of having sex with a minor in 2008.

The former Barclays boss was giving evidence at London’s Upper Tribunal as he seeks to overturn a finance industry ban and £1.8million fine by the Financial Conduct Authority (FCA).

The FCA claims that Staley, 68, ‘recklessly’ misled it after a letter sent to the watchdog from Barclays claimed that the two men were not ‘close’. 

It says a cache of emails from Staley’s former employer JP Morgan – where the banker managed Epstein’s account – cast doubt on that claim.

In court, Staley has repeatedly stressed that he had a ‘close, professional’ but not ‘personal’ relationship with Epstein.

Hearing: Former Barclays boss Jes Staley (pictured) was giving evidence at London’s Upper Tribunal as he seeks to overturn a finance industry ban and £1.8m fine by the FCA

Yesterday, he was cross-examined by Leigh-Ann Mulcahy KC, for the FCA, over a series of supportive emails he sent Epstein dating back to his 2008 conviction for child sex offences.

The hearing was told that when Epstein was released in July 2009 he messaged Staley and three other individuals to announce he was ‘free and home’. 

Staley, who had said earlier that he felt the conviction had been an ‘isolated transgression’, admitted he had sent a reply to the paedophile stating: ‘I toast your courage!!!!!’

When questioned as to why he felt the sex offender was ‘courageous’, he replied: ‘He was indicted, he was prosecuted, and he served time in jail, and I was loyal to him.

‘And obviously any time in prison is a tough time.’

Staley insisted he had no idea about the later trafficking allegations against the serial paedophile, adding: ‘If I was aware of his monstrous activities, I would not have maintained a relationship.’

Staley’s appeal centres on a 2019 letter sent by Barclays chairman Nigel Higgins to the FCA, which approached the bank shortly after Epstein’s arrest prompted press interest.

The hearing continues.

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I stayed loyal to convicted Epstein, admits former Barclays boss Jes Staley

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