The regulators’ findings have not yet been made public.īarclays promoted Venkat and global head of banking Paul Compton last year as part of its plans to eventually replace Staley.
“The board is disappointed at this outcome,” the lender said in a statement. The Epstein probe has cast a shadow over Staley even as his firm enjoyed record results. He fended off a prior regulatory probe and a campaign by an activist shareholder to unseat him over his strategy to bolster Barclays’ investment bank. At Barclays, Staley’s surprise departure caps a tumultuous six years atop the British lender. Venkatakrishnan will replace his mentor Staley, 64, who plans to contest the probe’s findings.Įpstein connections also helped spark the exit of one of the biggest names in private equity earlier this year when Leon Black left Apollo Global Management Inc. regulators shared with Barclays the preliminary findings of their multi-year probe into what he told the bank’s board about his relationship with Epstein following the latter’s 2019 arrest on sex-trafficking charges.
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