Investor turns heat on Barclays chairman in Jes Staley fallout

Under pressure: Nigel Higgins

Barclays chairman Nigel Higgins is under pressure to quit after a leading shareholder group said there were ‘questions about his position’ at the bank.

Former Barclays boss Jes Staley was fined and banned from the City for misleading regulators and the lender’s board over his relationship with convicted paedophile Jeffrey Epstein.

A devastating report by the Financial Conduct Authority found that Staley had ‘recklessly approved’ a letter sent by Barclays to the City watchdog in 2019 which included the misleading claim that Staley’s last contact with Epstein had been ‘well before’ he joined Barclays as chief executive four years earlier.

Critics have suggested that the board, led by Higgins since May 2019, took Staley’s assurances at face value. The Mail on Sunday revealed links between Staley and Epstein three days before his appointment at Barclays in 2015.

The FCA report shows Staley also told Epstein he had been approached by an unnamed Barclays board member about the chief executive vacancy four months earlier – before the official recruitment process had even begun.

A spokesman for investor advisory group PIRC said: ‘There clearly are questions about Higgins’ position. There are also questions about which board member recommended Staley.’

Staley lost his position as chief executive in 2019 and was fined £1.8 million. He plans to appeal the FCA’s decision. Barclays declined to comment.