Barclays Boss: Brace to Shock Starry’s Email-Chairman calls top investors to warn that the message between Epstein and Starry is “unpleasant”
- Nigel Higgins has contacted some of the bank’s largest investors
- Jes Staley suddenly quit after seeing the results of a regulatory investigation
- Publishing a report can be embarrassing for Higgins and the board
The Barclays chairman personally warned shareholders that the email between former boss Jes Staley and convicted sex offender Jeffrey Epstein would be “unpleasant” to read. Sunday’s email can be revealed.
Nigel Higgins has contacted some of the bank’s largest investors over the past two weeks and made a clear effort to combat the scandals that are unfolding.
Staley suddenly quit earlier this month after seeing the results of a regulatory investigation into his account of his relationship with Epstein, which he characterized as a professional.
Fire Fight: Barclays Chairman Nigel Higgins has contacted some of the bank’s largest investors in the last two weeks.
An American-born banker plans to challenge the findings of two UK regulators investigating whether he misrepresented his historic connection with a shameful millionaire financier. doing.
Epstein appears to have committed suicide in 2019 in the face of allegations related to the sexual trafficking of a minor girl.
The survey evaluated approximately 1,200 emails exchanged between Epstein and Starley, who worked at JP Morgan’s private bank at the time of the communication.
In a Sunday email, Higgins, who saw the report, told investors that some of the emails between Starry and Epstein would be “unpleasant” to see because of Starry’s fluent language. I understand.
One of the top 20 shareholders told an email on Sunday: He was very open. He said that if you read the final report, you would have a question for us as it would lead to unpleasant reading.
Another investor said Higgins described some of Starry’s words as “generous” in an email. The chairman also said that Starry often had strong relationships with clients and colleagues.
According to one source, Mr. Higgins explained that Starry had to resign after announcing that he would fight regulators because banks had to operate under regulatory authority.
Staley hired Arnold & Porter’s lawyer, Kathleen Harris, to challenge the results of a joint investigation by the Financial Conduct Authority and the Prudential Regulatory Agency.
The FCA may publish detailed “notices”, including excerpts from email, even if the proceedings pass the court system.
The concern is that the excerpt suggests that it was closer to Epstein than Starry initially mentioned.
The warning from Higgins was issued after public support for Starry during a regulatory investigation last February.
At that time, the bank said: ‘The Board believes that Mr. Starry is sufficiently transparent to the company regarding the nature and extent of his relationship with Mr. Epstein.
“Therefore, Mr. Starry retains the full trust of the Board and is unanimously recommended for re-election at the Annual Meeting.”
Issuing the report can be embarrassing for Higgins and the board, who were informed about email caching as early as 2019.
Recent phone calls can be seen as an effort to keep the board away from the situation and prepare investors ahead of publication.
Starry first met Epstein in early 2000 when Epstein was a customer of JP Morgan. Staley also visited Epstein in 2009 while serving imprisonment for soliciting prostitution from minors.
American Bunker also sailed his yacht Bequia to Epstein’s private retreat in the Caribbean just months before becoming CEO of Barclays in December 2015.
As soon as Starry announced his withdrawal from Barclays, the bank promoted CS Ben Kataklishnan, known as “Benkat,” to Chief Executive Officer. Ben Kat has held individual phone calls and meetings with major shareholders in New York for the past week.
He was hired by Starry, who worked with him at JP Morgan in 2016, as Chief Risk Officer of Barclays.
One of the largest shareholders who spoke with Venkat in the last two weeks said:
Shareholders have expressed concern about the fact that Starry will continue to receive his £ 2.4m salary and £ 120,000 pension allowance and other benefits until October.
A Starry spokesman said: ‘Mr. Starley intends to challenge the initial findings of the FCA and PRA investigations.
“He will not make any more official statements at this time.”
Barclays declined to comment.
Barclays Boss: Brace to shock Starry’s email with Epstein
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