# Jes Staley received images of ‘mature women’ from Jeffrey Epstein, court hears

Lawyers for ex-Barclays CEO challenging FCA ban argue pictures were ‘innocuous’



**Former Barclays CEO Jes Staley arrives at court on Monday**

Photograph: Andy Rain/EPA

Kalyeena Makortoff, Banking correspondent, Mon 3 Mar 2025 13.33 EST

First published on Mon 3 Mar 2025 06.45 EST

Images received by the former Barclays chief executive Jes Staley from child sexual abuse offender  were of “mature women” and ultimately “innocuous”, his lawyers have argued, as they tried to discredit claims that the ex-banking boss lied about the depth of the two men’s relationship.

The comments were made on the first day of a legal battle in which Staley is trying overturn the decision by the  (FCA) to ban him from senior roles in the UK’s financial sector, after its investigation found he misled the regulator over the nature of his relationship with Epstein.

The FCA is arguing that the relationship between the two men was “indeed close” and it “went beyond one that was professional in nature”.

Its own formal investigation, launched in December 2019 after the watchdog received further information from Staley’s former employer JP Morgan, also found Staley was in contact with Epstein in the .

The regulator is alleging that the pair later used Staley’s eldest daughter as an “intermediary” to stay in touch long after he became Barclays’ chief executive, until at least February 2017.

Staley’s lawyers do not dispute that his daughter spoke to Staley about emails from Epstein, but says he does not remember the conversations.

The FCA’s barrister, Leigh-Ann Mulcahy KC, told the tribunal that Staley had a “motive to downplay his relationship” with Epstein, particularly after  for trafficking underage girls for sex.

She added that there had been a “pattern of underplaying his relationship” going back years, including when responding to media inquiries about their ties from titles such as the Mail on Sunday in 2015, and in talking points prepared for the board of Bowdoin College in September 2019, where he was a trustee, after it asked for more information.

Staley appeared in court for the start of proceedings. Wearing a dark grey suit and blue tie, the former executive sat with members of his legal team as opening arguments were delivered to a tribunal panel led by Judge Tim Herrington.

Staley’s legal team is disputing the true purpose of a letter that Barclays sent to the FCA in October 2019, as well as claiming that members of the bank’s board had been briefed on the extent of his ties with the late financier.

Staley’s lawyers will argue that the FCA had only asked for assurances around whether Staley or Barclays “had any knowledge of, or involvement in, Mr Epstein’s unlawful conduct”, rather than the extent and nature of their relationship. The lawyers claim that the letter would otherwise have “been drafted and approved in very different terms”.

“Barclays knew that Mr Staley had had a ‘close’ professional relationship with Mr Epstein which had extended over many years …  that there were aspects of that relationship which were not confined to business,” the opening statement said.

The FCA’s case will outline the depth of their alleged relationship, including claims that Epstein messaged Staley about sex, women and foreign holidays, while working behind the scenes to bolster Staley’s career by liaising with government officials, business leaders and royalty.
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