Andrew Bailey to give evidence in Jes Staley trial on Epstein ban

Bank of England Governor listed as witness as former Barclays boss challenges lifetime City ban

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Andrew Bailey has been dragged into a legal row over how well a former boss of Barclays knew Jeffrey Epstein.
The Bank of England Governor has been listed as a witness in a case brought by Jes Staley, who is challenging his lifetime ban from the City over his ties to disgraced paedophile financier Epstein.
The Financial Conduct Authority (FCA) last October banned former bank boss Mr Staley from holding positions of power in the City after a years-long investigation found he had “recklessly misled” the watchdog over his relationship with Epstein.
He was also fined £1.8m and had to forfeit around £18m in Barclays bonuses.
The FCA’s investigation began in 2019 under Mr Bailey, who ran the City regulator until he left to become Bank governor in March 2020.
Mr Bailey has now been listed as a witness in Mr Staley’s court challenge to the City ban. The Governor is due to give evidence in the case, which is scheduled to begin in March 2025.
Nigel Higgins, the chairman of Barclays, has also been listed as a witness alongside Mr Bailey, according to Bloomberg.
Both men will give evidence about meetings they attended regarding the FCA’s preliminary investigation into Mr Staley’s relationship with Epstein in late 2019.
Mr Staley led Barclays from 2015 until 2021 when he stepped down after the UK bank became aware of the preliminary outcome of the FCA investigation.
According to the FCA, Mr Staley had “recklessly approved a letter” sent by the Barclays board to the watchdog in October 2019, which contained two misleading statements about the nature of his relationship with Epstein.
The letter said that Mr Staley “did not have a close relationship with Mr Epstein”, a claim the FCA said was “misleading”.
The two men had become friends after Epstein became a client of JP Morgan, where Mr Staley had worked for many years before he joined Barclays.
Mr Staley has maintained that he ended his relationship with Epstein after becoming chief executive of Barclays in 2015.
He is appealing the FCA’s prohibition decision and the £1.8m fine at the Upper Tribunal, a higher court which can overturn the FCA’s decision.
Barclays, the FCA and the Bank of England declined to comment. Mr Staley’s lawyer was contacted for comment.
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