An investigation has been launched into the relationship between the American boss of Barclays bank and the disgraced financier Jeffrey Epstein, the bank said Thursday.
Barclays said that when it was deciding whether to endorse Staley's reelection it had to take into account"media reports in the past six months that have highlighted historical links between" the two men.that said Staley visited Epstein in Florida between 2008 and 2009 while he was severring a 13-month sentence for soliciting prostitution from a minor.that Staley visited Epstein on his private island in the Caribbean in April 2015.
It's not the first time Staley has been investigated by regulators. In 2018, the FCA and PRA fined him 642,000 pounds for trying to identify a whistleblower who had sent letters criticizing one of his hires at Barclays. He received a bumper pay package of 5.9 million pounds in 2019, up from 3.36 million a year earlier, according to Reuters. The sum was boosted by the paying out of a long-term incentive plan worth 1.48 million pounds.Both Staley and Finance Director Tushar Morzaria took cuts to their pension allowances in 2019, and will now receive fixed cash contributions equating to 10 percent of salary in line with the broader workforce, Reuters said.
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