Who is Jes Staley? 5 things you didn’t know about the new Barclays boss

He has a pretty nice yacht

Jes Staley was pegged as the new CEO of Barclays two weeks ago, but now the bank has officially confirmed his appointment, after getting regulatory clearance.

Staley is about to earn £8.2m in his first year at Barclays, if he gets his full bonus, and will be filling the gap left by the departure of Antony Jenkins who was sacked back in July when the bank said it wasn’t making enough profit under his leadership.

American banker Staley isn’t well-known in the UK. Here are 5 things you may not know about him:

He’s ex-J.P. Morgan

Staley worked at J.P. Morgan from the time of graduating to 2013, for a total of 34 years. During this time he worked at the bank’s Latin America division, where he was head of corporate finance for Brazil and general manager of the company’s Brazilian brokerage firm. He then went on to grow the asset management division from $605bn to nearly $1.3 trillion as CEO. He went on to become CEO of the investment bank.

Jes is short for James

Staley’s real first name is James but he has been known as Jes since childhood. He was born in 1956 and grew up in Boston, Massachusetts and then later Philadelphia, Pennsylvania. He studied a degree in economics at Bowdoin College in Maine.

He has a yacht

The custom-built vessel was designed in part by his wife Deby, an interior designer. It’s described by Maine Home + Design magazine as “widely recognized as one of the finest yachts of her time”.

“With accents of color [sic] in the upholstery and carefully designed lighting, it is a warm, homelike, upbeat space—a far cry from the sometimes oppressive atmosphere created by the dark, all-varnished  interiors typical of many recent large yachts,” the magazine said.

His brother is a well-known AIDS activist

Staley is one of four children. His younger brother Peter is an AIDS-LGBT rights activist who was featured in the Oscar-nominated documentary How to Survive a Plague.

He’s involved with a poverty charity

Staley sits on the board of the Robin Hood Foundation, a charity tackling poverty in New York.

The charity’s mission is: “Since 1988 Robin Hood has targeted poverty in New York City by supporting and developing organizations that provide direct services to poor New Yorkers as well as improving their earning power and long-term prospects. Robin Hood provides program grants, general operating support, capital grants, and funds to build management capacity.”

Other directors are high profile bankers and hedge fund managers, as well as the actress Gwyneth Paltrow.

NOW READ

BT tower

EE and BT’s massive merger cleared by Competition and Markets Authority

Marks and Spencer logo

Marks and Spencer leak customer data through website error

Social Bookmarks