Ex-Investor Raises Concerns Over Barclays’ Examination of Former CEO’s Ties to Epstein
Edward Bramson, a former investor in Barclays (BARC.L), expressed doubts on Friday about the thoroughness of the British bank and its chairman Nigel Higgins in investigating the previous business connections between ex-CEO Jes Staley and convicted sex offender Jeffrey Epstein.
In a letter obtained by Reuters, activist investor Bramson mentioned that Higgins had never questioned Staley about his decision not to close Epstein’s bank accounts at JP Morgan while the late financier was Staley’s client at the US bank. Bloomberg News was the first to report on Bramson’s letter.
Barclays chose not to comment on the matter, and neither did Higgins, who was not immediately available for a response.
Staley has admitted to being friends with Epstein in the past but has expressed regret for their association and denied any knowledge of his criminal activities. A lawyer representing Staley declined to comment.
Staley, who served as Barclays’ CEO from 2015 until his departure in November 2021, is currently disputing the conclusions of a UK regulatory investigation into how he portrayed his relationship with Epstein.
Epstein, a JP Morgan client from 2000 to 2013, took his own life in a Manhattan prison cell in August 2019 while awaiting trial on charges of sex trafficking.
Bramson’s letter to his investors did not specify the date of his conversation with Higgins. He also urged Barclays to evaluate the actions of each board member regarding the risks of retaining Staley and to share these findings with the market.
According to Refinitiv data, neither Bramson nor his Sherborne investment vehicle appear among Barclays’ current investors. A spokesperson for the bank confirmed that Bramson is no longer a shareholder.
Staley, who began his tenure at Barclays after over three decades at JP Morgan, is named in two civil lawsuits against the US bank, which accuse it of enabling and concealing Epstein’s criminal network.
In response, JP Morgan has filed a lawsuit against Staley for alleged “outrageous” conduct and breach of his duty of loyalty to the bank.
Staley’s legal team has dismissed claims that he concealed what he knew about Epstein as “slanderous” and “false.”
