What is the net worth of Jes Staley?
Jes Staley is a former Barclays Group Chief Executive (CEO) and an American banker with a massive net worth of $120 million who recently stepped down as CEO of Barclays on November 1, 2021.
He has approximately four decades of banking and financial industry experience. He worked for J.P. Morgan's investment bank for 34 years, eventually rising to the position of CEO.
Quick Facts About Jes Staley
|Jes Staley Net Worth||$120 Million|
|Full Name||James Edward Staley|
|Date of Birth||December 27, 1956|
|Wife||Debora Nitzan Staley|
Jes Staley Earnings, Career, Wiki, and More
According to THE SCOTSMAN, Staley's net worth is expected to be around $120 million as of 2021 which he accumulated from his 40 years of a successful banking career. He reportedly earned Â£5,929,000 as group chief executive and executive director of Barclays Plc, according to Wallmine, the stock market data and tracking website. He was the highest-paid executive at Barclays Plc.
Following graduation in 1979, he went to work for Morgan Guaranty Trust Co. in New York. From 1980 until 1989, he was the head of corporate finance for Brazil and the general manager of the bank's Brazilian brokerage affiliate in the bank's Latin America division. In the early 1990s, he was one of the founding members of J.P. Morgan's equities division, overseeing the Equity Capital Market and Syndicate sections.
In 2001, he was named CEO of J.P. Morgan Asset Management, which he oversaw until 2009. During his tenure, J.P. Morgan Asset Management's client assets climbed from $605 billion to almost $1.3 trillion. He was appointed to Chief Executive of the Investment Bank in 2009, where he was in charge of directing and coordinating the firm's global activities across all lines of business.
He spent Â£6.4 million in 2015 to purchase $2.8 million shares in Barclays at 233p each. Directors at Barclays are required to own shares worth four times their pay, which he did because his salary was Â£1.2 million. In 2015, however, his overall payment package was worth Â£10 million, which included his salary, a fixed pay allowance to bypass an EU bonus cap, annual bonuses of up to Â£2.1 million, and a Â£3.2 million long-term incentive scheme.
British officials investigated his attempts to establish the identity of a whistleblower for over a year in 2016. The Financial Conduct Authority and the Prudential Regulatory Authority declared on April 20, 2018, that he might keep his job as CEO if he paid a fine. The FCA penalized him for Â£642,430, and Barclays stated it would deduct Â£500,000 from his bonus as a result of the incident.
Concerns over his past disclosures of his association with Jeffrey Epstein prompted the FCA to launch an investigation into whether he was "fit and proper" to manage Barclays in February 2020. He informed his coworkers that he plans to quit Barclays before the end of 2021. As a result of his ties to Epstein, he announced his departure from Barclays on November 1, 2021.
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Jes Staley Relationship and Personal Life
His wife, Debora Nitzan was a 19-year-old student when he met her. They met while working in South America and started dating, and he later claimed to be Debora's parents' "worst nightmare".
The family lives on Park Avenue in New York City and Southampton, Long Island, and has two kids. He also owns a beautiful yacht named Bequia, after the island where they spent their honeymoon.
Since learning that his brother Peter had been diagnosed with HIV, he has allegedly been a strong supporter of diversity. At J.P. Morgan, he was instrumental in advancing the diversity agenda.
Jes Staley Early Life, Family, and Education
He was born in Boston, Massachusetts, on December 27, 1956. Paul R. Staley, his father, was the president and CEO of PQ Corporation, a chemical firm, where the family finally resided outside of Philadelphia, Pennsylvania.
When W.T. Grant filed for bankruptcy in 1976, his grandpa, Edward Staley, was the company's top executive. Peter Staley, his brother, is an AIDS activist.
Regarding his academic qualification, he earned a bachelor's degree in economics from Bowdoin College.
Interesting Facts About Jes Staley
- He is a committed Democrat who holds fundraisers. He has given money as charity to the Democratic Senatorial Committee in the past.
- He is a huge supporter of the Boston Red Sox.