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James E. Staley

2,312 bytes added, 13 February
James "Jes" Staley is the chief executive officer of [[Barclays]]. He joined the company in that role on December 1, 2015.<ref>{{cite web|url=|name=Barclays appoints Jes Staley as new CEO|org=CNBC|date=December 17, 2015}}</ref>
He was previously managing partner at [[BlueMountain Capital Management LLC]] and a former [[JPMorgan Chase & Co.]] executive. He joined BlueMountain in early 2013 after more than three decades at JPMorgan.
He was appointed CEO of [[Barclays]] on October 28, 2015.<ref>{{cite web|url=|name=James Staley, Ex-JPMorgan Banker, Named C.E.O. of Barclays|org=The New York Times|date=October 28, 2015}}</ref> Starting in December 2015, he will lead led the UK lender through a period of major restructuring.<ref>{{cite web|url=|name=Barclays set to pick Jes Staley as chief executive|org=The Financial Times|date=October 13, 2015}}</ref> <ref>{{cite web|url=|name=What Hiring Jes Staley Could Bring to Barclay's Investment Bank|org=Bloomberg|date=October 13, 2015}}</ref> While CEO at Barclays, Staley came under investigation by British bank regulators for trying to reveal a whistle-blower who criticized one of his senior hires. In April 2018 he was fined 642,430-pounds ($833,000), and received a cut to his pay from the board over the whistleblower issue.<ref>{{cite web|url=|name=Barclays boss Jes Staley faces penalty for 'conduct breach'|org=BBC News|date=April 20, 2018}}</ref> Barclays was also fined $15 million by New York regulators. He also lost a big client, the private equity firm Kohlberg Kravis Roberts & Company, which was angered by Staley’s attempt to help his brother-in-law’s business interests at what KKR saw as its expense. He weathered calls to throw him out at an annual shareholder meeting in May 2017.<ref>{{cite web|url=|name=James Staley’s Series of Unfortunate Events|org=The New York Times|date=April 20, 2018}}</ref>  In February 2020 it was reported that Staley was also being investigated over his ties to the disgraced financier Jeffrey Epstein, whose connections to a bevy of prominent financiers came under the spotlight after his arrest.<ref>{{cite web|url=|name=Barclays Says U.K. Is Probing CEO Jes Staley’s Ties to Jeffrey Epstein|org=Bloomberg|date=February 13, 2020}}</ref>
Staley is a member of the board of [[UBS]], which he joined in early 2015. He is also a member of an advisory committee to the [[Federal Reserve Bank of New York]].
== Background ==
 In 1979, Staley worked landed a job at Morgan Guaranty, a forerunner to JPMorgan that was then primarily a commercial lender and bond dealer. He ended up working for JPMorgan for over more than 34 years. He advanced rapidly at the company, and in 2009 was named to run the entire investment bank. In 2004 he engineered JPMorgan’s $1.3 billion investment in the hedge fund Highbridge Capital, which added greatly to the client money JPMorgan Asset Management oversaw.<ref>{{cite web|url=|name=James Staley’s Series of Unfortunate Events|org=The New York Times|date=April 20, 2018}}</ref>  His roles included chairman of the corporate and investment banking unit and chief executive of JPMorgan's investment bank. Before becoming CEO, he helped the investment management division double assets under management to $1.3 trillion.<ref>{{cite web|url=|name=Dimon Diaspora Faces Biggest Challenge Yet|org=New York Times|date=October 13, 2015}}</ref>
He was removed as chief executive in July 2012, after JPMorgan CEO [[Jamie Dimon]] reorganized the business segments and appointed two younger executives to be co-chiefs of commercial and investment banking. <ref>{{cite web|url=|name=JPMorgan investment bank chairman leaves for hedge fund|org=Reuters|date=January 8, 2013}}</ref> Staley was at one time seen as a possible candidate to take over from Dimon as CEO of JPMorgan. <ref>{{cite web|url=|name=JPMorgan's Staley Quits to Join BlueMountain Hedge Fund|org=Bloomberg|date=January 8, 2013}}</ref>
== Education ==
Staley graduated from Bowdoin College with a degree in [[Economics]].<ref>{{cite web|url=|name=A Dossier on Jes Staley: J.P. Morgan's Next CEO?|org=The Wall Street Journal|date=January 8, 2013}}</ref>
== References ==