Barclays CEO steps down over Epstein report by UK regulators

C S Venkatakrishnan, head of global markets for the bank, will take over as chief executive; shares take a hit

The chief executive of British bank Barclays stepped down Monday following a report by United Kingdom regulators into his past links with the late financier and sex offender Jeffrey Epstein.

Jes Staley has previously said he “deeply regrets” his relationship with Epstein, who killed himself at a federal jail in New York in August 2019 while awaiting a sex trafficking trial. There is no suggestion that the 64-year-old Staley knew anything about Epstein’s alleged crimes.

Staley said he will contest regulators’ preliminary conclusions, which were shared with him and the bank Friday. The report by the Financial Conduct Authority and the Prudential