The U.S. Senate Committee on Banking, Housing and Urban Affairs' ranking member, Senator Elizabeth Warren, together with House Oversight Committee members Ro Khanna and Raja Krishnamoorthi, sent a letter to Barclays Chairman Nigel Higgins seeking more detail on the bank’s investigation of former Chief Executive Jes Staley’s professional and personal relationship with Jeffrey Epstein. The lawmakers questioned how Barclays could have concluded in 2019 that Staley did not have a close relationship with Epstein when subsequent reporting and legal records pointed to a long-running connection, and said the apparent failure to uncover or address that relationship raised governance and accountability concerns. The letter ties those concerns to Staley’s conduct before and during his time at Barclays, including extensive contact with Epstein after Epstein’s 2008 conviction and allegations that Epstein later tried to help Staley secure the Barclays chief executive role. It also points to the U.K. Financial Conduct Authority’s December 2023 enforcement action, which found Staley recklessly misled the regulator and acted without integrity, resulting in a lifetime ban from senior roles in the U.K. financial sector and a fine that was later reduced to GBP 1.1 million when the ban was upheld in July 2025. The lawmakers further criticized Barclays for allowing Staley to resign rather than terminating him, saying the departure arrangement let him retain compensation and benefits despite the regulatory findings. The letter asks Higgins to explain Barclays’ knowledge of Staley’s relationship with Epstein and the bank’s response. It also notes Barclays’ substantial U.S. presence, including about USD 200 billion in assets under Barclays US LLC, and links the issue to expectations around the character and fitness of bank management for firms holding U.S. charters and licenses.
U.S. Senate Committee on Banking, Housing and Urban Affairs2026-07-23
U.S. Senate Committee on Banking, Housing and Urban Affairs ranking member seeks Barclays answers on Jes Staley and Jeffrey Epstein ties
Senator Elizabeth Warren, in her capacity as ranking member of the U.S. Senate Committee on Banking, Housing and Urban Affairs, joined two House Oversight members in pressing Barclays for details on how it investigated Jes Staley’s relationship with Jeffrey Epstein. The lawmakers questioned Barclays’ 2019 account to U.K. regulators, cited the Financial Conduct Authority’s lifetime ban on Staley, and challenged the bank’s decision to let him resign with compensation. They also pointed to Barclays’ large U.S. operations in arguing that the issue raises management fitness and governance concerns.