Jes Staley, the former chief executive of Barclays, faced intense scrutiny during a closed-door session with a U.S. House of Representatives oversight committee last month over his longstanding ties to the late financier and convicted sex offender Jeffrey Epstein. The testimony, released by the committee, revealed challenges to Staley’s credibility and detailed his relationship with Epstein, including claims about his knowledge of Epstein’s network and his use of confidential information.

Staley, who resigned from Barclays in November 2021 amid investigations and an impending ban from UK banking authorities, was accused by congressional questioners of not being "entirely honest" in his responses. A redacted questioner referenced Staley’s alleged pattern of saying what suited his interests and questioned his memory regarding emails referencing a woman identified as "Snow White." Despite Staley having sent Epstein an email asking to “say hi to Snow White for me,” he claimed not to recall the woman or the email context. When pressed on the timing and content of these emails, some committee members expressed skepticism, with Democratic Congresswoman Melanie Stansbury describing his responses as “ridiculous.” Staley also denied allegations made by anonymous sources that he had sexually assaulted women connected to Epstein, though he faced pointed inquiries about these accusations.

During the committee hearing, Staley admitted to having had sexual relations with an Epstein assistant at her invitation but denied knowledge that Epstein directed women to have sex with men within his network. He also stated he was unaware that the assistant had excluded him from a settlement with Epstein’s estate—a detail raised both in the U.S. hearing and during prior UK court proceedings. Staley’s lawyer declined to comment further, citing attorney-client privilege.

Staley defended maintaining a relationship with Epstein after his 2008 conviction for soliciting prostitution from a minor by characterizing the crime as a “one-off event,” expressing the belief that Epstein would reform. He credited Epstein with playing a key role in connecting him to prominent business figures, particularly Glenn Dubin, founder of Highbridge Capital, which JP Morgan acquired in a $1 billion deal that elevated Staley’s profile and earned Epstein a $10 million fee. Staley described Epstein as instrumental in what he called the most important transaction of his career, facilitating introductions to an elite network that included Sergey Brin, Bill Gates, Elon Musk, and other high-profile clients. According to Staley, these referrals significantly benefited JP Morgan, generating estimated revenues of about $100 million, though he denied receiving personal finder’s fees.

The committee also examined a lawsuit JP Morgan filed against Staley three years prior, alleging he concealed the extent of his ties to Epstein and seeking damages for reputational harm suffered by the bank. The parties eventually reached a confidential settlement. Staley acknowledged that the bank attributed much of the responsibility for the Epstein affair's fallout to him, though he argued that responsibility was shared among various departments within the institution.

Another area of inquiry highlighted Staley’s sharing of confidential and market-sensitive information about JP Morgan with Epstein, including details of the bank’s communications with the Federal Reserve during the 2008 financial crisis. Staley justified these disclosures by asserting that, as a senior officer, he believed he had the right to share such information where appropriate.

The revelations come amid ongoing concerns from lawmakers such as Senator Elizabeth Warren, who in July questioned Barclays’ due diligence in appointing Staley as chief executive given his Epstein connections. Staley’s representatives have not publicly responded to recent inquiries. The committee’s findings add to the complex narrative of how Epstein’s relationships extended deep into global financial institutions.