Barclays boss Jes Staley has resigned after an inquiry into his links with convicted sex offender Jeffrey Epstein.

The American played down his role as private banker to the late financier, the probe is understood to have concluded.

He plans to contest the findings by the Financial Conduct Authority and Prudential Regulation Authority, due to be published next month.

Barclays said it was ‘disappointed’ after his shock resignation yesterday after he was sent a draft of the report on Friday.

The bank added the probe ‘makes no findings that Mr Staley saw, or was aware of, any of Mr Epstein’s alleged crimes, which was the central question underpinning Barclays’ support for Mr Staley following the arrest of Mr Epstein in 2019’.

The FCA and PRA declined to comment on the ongoing investigation.

Mr Staley will be paid a £2.5million payoff along with other benefits for a year, the bank said.

He has previously said he ‘deeply regrets’ his relationship with Epstein after acting as his private banker at JP Morgan, where he worked for 30 years.

His last contact with Epstein was in 2015, shortly before he joined Barclays, but only months after he and his wife sailed to Epstein’s private island Little St. James for lunch.

Mr Staley continued operating as his private banker for seven years after the financier was convicted of trafficking a minor for prostitution in 2008 and served 13 months in prison.

He said he had no contact with Epstein after taking over as CEO at the bank in December 2015.

Epstein died in a jail cell in 2019 while awaiting trial for sex trafficking.

The new chief executive will be CS Venkatakrishnan, who is head of global markets at the bank, whose shares fell by 2% following the announcement.

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