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Barclays Backs CEO Staley Despite UK Probe Over Links With Epstein

Barclays plc (BARC.L,BCS) said it retains the board's full confidence to its Chief Executive Officer Jes Staley, who has been under the radar for his relationship with U.S. Financier and convicted sex offender Jeffrey Epstein. Staley is being investigated by British regulators over his relationship Epstein, who committed suicide in U.S. jail last year.

The British multinational investment bank and financial services firm said it believes that Staley has been sufficiently transparent with the company as regards the nature and extent of his relationship with Epstein.

For the past 6 months, Media reports have highlighted historical links between Staley and Jeffrey Epstein. Staley developed a "professional relationship" with Epstein earlier in his career, but they had no contact since Staley joined Barclays Group in December 2015, the British bank said in a statement.

The relationship between Staley and Epstein was the subject of an enquiry from the Financial Conduct Authority and the Prudential Regulation Authority.

Barclays noted that it will continue to cooperate fully with the regulatory investigation.

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