CS Venkatakrishnan, the Barclays head of the global market and previously Chief Risk Officer, has replaced Jes Staley as the CEO of Bank England after the latter down on Monday amid investigators of British regulation into his relationship with investors and sex actors Jeffrey Epstein.
Staley’s departure came after the British regulator shared with Barclays the initial findings from their multi-year investigation into what he told the bank board about his relationship with Epstein after alleged sex trade in sex.
“The council is disappointed with this result,” the lender said.
The findings of regulators have not been published.
Venkat said the departure of the mentor’s surprise meant he took over England’s lenders “with very mixed emotions”.
Staley “became the Chief Executive Barclays in one of our darkest hours, and compiled and implemented a successful recovery strategy from an extraordinary vision,” Executive, known as Venkat, said in his first memo as CEO on Monday.
Barclays promoted Venkat and Chief Global Banking Paul Compton last year as part of his plan to finally replace Staley.
The head of Nigel Higgins began to look out of the bank for the possibility of the successor in early 2020, but placed the process to avoid destabilizing the company during a pandemic, according to people who are familiar with this problem.
Barclays was confirmed on Monday that he had reviewed external candidates but did not immediately respond to the request to comment further.
Venkat worked with Staley at JPMorgan Chase and was one of his first employees at Barclays, at first at first as Chief Risk Officer in 2016.
The executive, who was previously the head of the global market, said he would announce changes to the company’s banks and investments as view.
The results of his steps in the coming days.
Epstein was found dead in his prison cell in 2019, after being charged with trading sex.