LONDON, April 21 (Reuters) – Former Barclays (BARC.L) investor Edward Bramson on Friday questioned how the British financial institution and its chairman Nigel Higgins vetted its ex-CEO Jes Staley over his earlier enterprise ties to intercourse trafficker Jeffrey Epstein.
Activist investor Bramson stated in a letter seen by Reuters that Higgins had informed him that he had by no means requested Staley why he didn’t shut Epstein’s financial institution accounts at JP Morgan when the late financier was a consumer of his on the U.S. financial institution.
Barclays declined to remark by itself behalf and for Higgins, who couldn’t instantly be reached for touch upon Bramson’s letter, which was first reported by Bloomberg Information.
Staley has acknowledged having been pleasant with Epstein, expressed remorse for his or her relationship and denied figuring out about his crimes. A lawyer who represents him declined to remark.
Staley, who joined Barclays 2015 and left in November 2021, is contesting the findings of an investigation by UK regulators into how he characterised his relationship with Epstein.
The disgraced U.S. financier, who killed himself in a Manhattan jail cell in August 2019 whereas awaiting trial on intercourse trafficking prices, was a JP Morgan consumer from 2000 to 2013.
Bramson, who couldn’t instantly be reached for remark, didn’t specify the date of the dialog he described having with Higgins within the letter he despatched to his buyers.
Bramson, who bought his stake in Barclays at a loss two years in the past after failing to persuade the financial institution to enact reforms, additionally stated in his letter that Barclays ought to assess every of its administrators’ actions with regard to the dangers posed by retaining Staley and talk the findings to the market.
Bramson and his Sherborne funding automobile don’t seem amongst Barclays buyers in accordance with Refinitiv information, whereas a spokesperson for the financial institution stated he’s now not a shareholder.
Staley, who joined Barclays after greater than 30 years at JP Morgan, has been named in two civil lawsuits towards the U.S. financial institution for enabling and concealing Epstein’s community.
JP Morgan, in flip, has sued Staley over “outrageous” alleged conduct and breaching his responsibility of loyalty to the financial institution.
Staley’s legal professionals have dismissed allegations that he hid what he knew about Epstein as “slanderous” and “false”.
Reporting by Lawrence White; Further reporting by Kirstin Ridley; Modifying by Alexander Smith
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