Barclays chief executive CS Venkatakrishnan has said he is “deeply dismayed and shocked” by the “moral depravity and corruption” revealed in the Jeffrey Epstein files, as the bank navigates the fallout from its former boss Jes Staley’s ties to the convicted sex offender. Speaking as Barclays reported annual profits, Venkatakrishnan offered his thoughts to Epstein’s victims but declined to comment directly on allegations against Staley.
The Guardian reported that US prosecutors reviewed allegations of rape and bodily harm against Staley in 2019, including claims that he forced a woman to touch his genitals and left “bloody marks” on another woman. Staley has denied wrongdoing and has not been charged. In a 2025 UK court hearing, he admitted to having sex with a member of Epstein’s staff but described it as consensual.
Barclays faces a US class action lawsuit alleging it misled investors about Staley’s relationship with Epstein, leading to share price drops when the UK’s Financial Conduct Authority (FCA) published findings in 2023. Staley resigned in 2021 over preliminary FCA findings and later lost an appeal against a ban from the UK financial sector, forfeiting £18m in pay and bonuses.
Venkatakrishnan’s comments echoed those of Bank of England governor Andrew Bailey, who said he was “shocked” by the Epstein revelations. The files also implicated former UK business secretary Peter Mandelson, who resigned from the Labour party and House of Lords after it emerged he shared confidential government information with Epstein.
HSBC and Barclays are also facing a $12bn lawsuit by US heiress Tanya Dick-Stock over a Jersey trust allegedly linked to the Epstein scandal. Both banks declined to comment. Meanwhile, Barclays reported a near-13% rise in annual profits to £9.1bn and announced plans to return over £15bn to shareholders between 2026 and 2028.
