James “Jes” Staley ’79 P’11, the former CEO of Barclays, stepped down from the Bowdoin Board of Trustees on Monday, according to a statement from Director of Communications Scott Hood. The statement followed an announcement earlier in the day that Staley would resign from his position as Chief Executive of Barclays.
Staley has served on Bowdoin’s board since 2007 and has come under fire in recent years for his relationship with the late sex trafficker and financier Jeffrey Epstein, as well as accusations of misconduct during his time at Barclays. According to the New York Times, Staley resigned his position at Barclays after learning the preliminary conclusions of a two-year investigation into his relationship with Epstein by the Financial Conduct Authority and the Prudential Regulation Authority. Staley intends to contest the investigation’s findings according to a statement from the bank.
The announcement comes in the midst of an aggressive student-led campaign demanding Staley’s resignation from the College’s Board. This semester, students circulated a petition calling for his removal and organized a teach-in during Family Weekend detailing the extent of his wrongdoing. Additionally, signs critical of Staley were placed on Park Row last month before being removed following a complaint to the Brunswick town manager.
Staley was involved in a number of initiatives in his capacity as a trustee. Most notably, he chaired the search committee that hired President Clayton Rose in 2015. Hood expressed his gratitude to Staley for years of devoted service to the college.