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Barclays Reportedly Prepares To Start Search For New CEO

Barclays plc (BARC.L,BCS) is preparing to start the search for a new chief executive officer to replace Jes Staley, the Financial Times reported, citing two people briefed on the bank's plan.

Staley, 63, who took over as CEO in December 2015, has informed colleagues he expects to leave the group by the end of next year. He could stand down at the annual meeting in May 2021, the report said.

On 13th February, Barclays 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 had 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 as in December 2015, the British bank had said in a statement.

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