Staley volunteered to explain his ties to Epstein to Barclays in summer 2019, when media reports cast a fresh spotlight on their relationship. The two men met for a final time in 2015, when Staley took his own yacht, the Bequia, to visit Epstein’s private Caribbean island. He continued his relationship with Epstein after he left JPMorgan to join hedge fund BlueMountain Capital in 2013, but claims the relationship started to taper off after he left the bank. However, Staley stayed in contact with Epstein for seven years after he was convicted of soliciting prostitution from a minor in 2008, and visited Epstein in Florida while he was still serving his sentence and on work release in 2009. The American banker has said he developed a relationship with Epstein in 2000, when he was hired to lead JP Morgan’s private bank, which handles wealthy clients. “And for sure with hindsight of what we know now, I deeply regret having had any relationship with Jeffrey Epstein.” What do we know about Staley’s relationship with Epstein? “Obviously I thought I knew him well, and I didn’t,” Staley told reporters last year when the investigation was made public. JP Morgan and Barclays have declined to comment on the emails. According to the Financial Times, which first reported on the correspondence, the emails suggested their relationship was friendly. Those emails were reportedly supplied by JP Morgan Chase and dated to Staley’s time at the US bank. The joint FCA and PRA inquiry was launched after emails between Staley and Epstein were handed to the UK regulators by their counterparts in the US. The FCA has not commented on the scope of the investigation, or its preliminary findings, which have been shared with Staley and Barclays but have yet to be released to the public. Read more What does the investigation cover?Īccording to Barclays, the investigation focused on the way Staley characterised his relationship with Epstein to Barclays, and how Barclays subsequently described that relationship to the FCA when asked for further information.
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