By Joe Wallace and Caitlin McCabe

LONDON -- Jes Staley has failed in a long-shot bid to clear his name, with a U.K. tribunal upholding a financial-industry ban imposed over how he portrayed his relationship with disgraced financier Jeffrey Epstein.

The former Barclays chief executive subjected himself to two weeks in court this spring to make his case. But a London judge on Thursday sided with the U.K.'s financial watchdog, the Financial Conduct Authority, which found that Staley didn't fully disclose the terms of his relationship with Epstein.

"We have noted Mr. Staley's achievements as chief executive of Barclays, but in our view these do not diminish the seriousness of the misconduct, " wrote Timothy Herrington, a judge for the Upper Tribunal in the U.K. "The loss of his longstanding career is an inevitable consequence of that conduct."

The court, however, ordered that a fine of 1.8 million pounds, the equivalent of about $2.47 million, imposed on Staley should be cut to about GBP1.1 million.

A representative for Staley couldn't immediately be reached for comment.

"Mr. Staley chose to take a calculated risk that we would take his inaccurate account of his relationship with Mr. Epstein at face value," said Therese Chambers, joint executive director of enforcement and market oversight at the FCA. "He hoped that the truth would never come to light and that he would get away with it. Such a serious lack of integrity flies in the face of the requirements we place on those at the top."

Write to Joe Wallace at joe.wallace@wsj.com and Caitlin McCabe at caitlin.mccabe@wsj.com

(END) Dow Jones Newswires

June 26, 2025 07:49 ET (11:49 GMT)

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