Jes Staley, the former Barclays chief executive, faced intense scrutiny over his relationship with the late convicted sex offender Jeffrey Epstein during testimony before a U.S. House of Representatives committee. The closed-door session, held on July 24 and subsequently released, raised questions about Staley’s honesty and his conduct related to Epstein.
Staley, who stepped down from Barclays in November 2021 amid an investigation by the UK’s Financial Conduct Authority (FCA) that ultimately banned him from the banking industry, was pressed on several inconsistencies in his account. One committee member expressed skepticism about Staley’s candor, stating concerns that he had not been “entirely honest” and accusing him of tailoring his statements to suit his interests.
Central to the questioning was an email exchange involving a woman identified only by the codename “Snow White.” Records indicated that Staley emailed Epstein asking him to “say hi to Snow White for me” shortly before the woman sent Epstein a message describing a sexual encounter while wearing a costume. Staley denied recalling this reference, a claim that drew incredulity from committee members. Democratic Congresswoman Melanie Stansbury called his explanation “ridiculous,” noting the improbability of his claimed lack of memory despite acknowledging a friendly visit with Epstein during his incarceration.
In addition to disputed recollections, Staley denied allegations of sexually assaulting multiple women connected to Epstein. An anonymous questioner cited credible information suggesting aggressive or violent misconduct, concerns Staley rejected in his testimony.
Staley’s ties to Epstein were highly controversial given that he maintained contact with Epstein after the latter’s 2008 conviction for procuring a minor for prostitution. Before leading Barclays in 2015, Staley had spent over three decades at JPMorgan, managing its private bank and asset management divisions. Barclays has faced criticism for its vetting process in appointing Staley as CEO. In July, Senator Elizabeth Warren and other Democratic members called on Barclays chairman Nigel Higgins to clarify the bank’s due diligence procedures, suggesting a failure to properly evaluate Staley’s background raised significant governance questions.
Barclays acknowledged that new information came to light after Staley’s appointment, indicating he had misled the bank and others about his relationship with Epstein. Staley’s representatives have yet to comment on the recent testimony.
During the hearing, Staley admitted to having a sexual encounter with an unnamed Epstein assistant at her apartment in New York, describing it as consensual and initiated at her suggestion. When confronted with evidence that the woman had settled a lawsuit against Epstein’s estate but explicitly reserved rights to pursue claims against Staley, he said he was unaware of this detail.
The House committee’s investigation continues to probe Staley’s involvement and the broader implications of Epstein’s network within the financial sector and beyond.