JPMorgan and Jes Staley

Deposition and discovery records unsealed in 2023 show that JPMorgan staff raised Epstein repeatedly after his 2008 conviction. In 2011 the bank’s general counsel, Stephen Cutler, wrote that Epstein “should not be a client.” A 2013 compliance document says the private bank did not want to keep him but was overruled because of his relationship with Staley. Chief executive Jamie Dimon testified that he did not discuss Epstein with Staley and that the bank would have dropped Epstein had it known he was trafficking. [1][2][3]

The suits alleged that the bank processed cash withdrawals and payments to young women that should have triggered reports to regulators. JPMorgan said it regretted the association and that it had not helped Epstein commit crimes. [2][3]

In 2023 JPMorgan paid $290 million to settle a class action by survivors, approved by Judge Jed Rakoff in November, and $75 million to the U.S. Virgin Islands. It admitted no liability. The bank then settled its own suit against Staley on confidential terms. [1][2][3][4]

Staley was Epstein’s main contact at JPMorgan and later chief executive of Barclays. Britain’s Financial Conduct Authority banned him from senior roles, finding that a letter Barclays sent it in 2019 with his input misled it about the relationship. Upholding the ban in June 2025, a tribunal noted that Staley had described Epstein as one of his “deepest” and “most cherished” friends and was in contact with him in the days before his Barclays appointment was announced in October 2015. The fine was cut from £1.8 million to £1.1 million. Staley has said he did not know of Epstein’s crimes and regrets the friendship. [1][2]