Barclays Plc paid Jes Staley £107,000 ($129,427) to cover the cost of his move back to the US after he stepped down as boss of the lender following criticism of his disclosure of ties to the late pedophile financier Jeffrey Epstein.
(Bloomberg) — Barclays Plc paid Jes Staley £107,000 ($129,427) to cover the cost of his move back to the US after he stepped down as boss of the lender following criticism of his disclosure of ties to the late pedophile financier Jeffrey Epstein.
The London-headquartered bank disclosed the repatriation expense in its 2022 annual report. It was part of its contractual obligations to the US banker whose 12-month notice period started in late 2021.
Staley continued to receive his fixed pay and other benefits for much of 2022, receiving £1 million in cash and £1 million in Barclays stock, a pension allowance of £100,000, as well as other benefits worth about £46,600, according to the report. Staley formally ceased to be an employee on Oct. 31.
Staley continues to be eligible for annual advice on US and UK tax compliance, though no amount was disclosed for the value of this benefit in the filing.
The bank said unvested awards granted to Staley remain suspended pending the outcome of the British regulatory investigation related to his links to Epstein.
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