In newly released transcripts from a closed-door congressional interview last month, former Barclays chief executive Jes Staley has categorically denied having a sexual encounter with a woman dressed as Snow White, following scrutiny of his controversial email exchanges with disgraced financier Jeffrey Epstein.
The dramatic denial forms part of a wider investigation by US lawmakers into the late Epstein, who was found dead in his New York jail cell in August 2019 while awaiting trial on charges of child sex trafficking.
Email Exchange Under the Microscope
During the July 2010 correspondence between Staley and Epstein, references were made to Disney princesses, with Staley writing to Epstein: “That was fun. Say hi to Snow White.” Epstein’s response asked, “What character would you like next?” prompting Staley to reply with “Beauty and the Beast,” to which Epstein allegedly responded: “Well one side is available.”
The exchange has been under intense media scrutiny since 2021, raising questions about the nature of Staley’s relationship with the convicted sex offender.
Congressional Line of Questioning
During his testimony before lawmakers, Staley was directly asked whether he had ever engaged in sexual activity with a young woman wearing a Snow White costume.
“No, I did not,” Staley stated unequivocally.
Further questioning centred around an email sent to Epstein by an unnamed individual on 10 July 2010, which read: “the snow white was f..ed twice as soon as she put her costume on.” The congressional representative pressed Staley on why this woman would have sent such a message to Epstein if no intimate encounter had occurred.
“I have no idea who else she was with. It has nothing to do with me, though,” Staley responded, later clarifying: “I may have seen her in apartment and prompted that email. But I was not with a person dressed as Snow White outside of potentially crossing at his apartment.”
Addressing Allegations of Code Names
Staley was also questioned about whether he and Epstein had used Disney princesses as code names for selecting women for sexual encounters.
“No,” he replied.
The former banker, who spent over three decades at JPMorgan Chase before taking the helm at Barclays in 2015, has faced significant reputational damage due to his well-documented friendship with Epstein.
Regulatory Fallout and Career Consequences
Staley’s connection with Epstein originally dated back to 2000, when he became head of JP Morgan’s private bank and Epstein was a client. His relationship with the convicted sex offender ultimately led to his resignation as Barclays CEO in 2021, following an investigation by UK financial regulators into his ties to Epstein.
He was subsequently banned from holding any position in the UK financial services sector for failing to adequately disclose the extent of his relationship with Epstein. Last year, Staley attempted to overturn this banking ban through legal channels, a process that exposed intimate details of his friendship with the disgraced financier.
Why it Matters
This congressional testimony underscores the ongoing fallout from Jeffrey Epstein’s death and the broader investigation into his network of influential contacts. For corporate governance and financial regulation, the case highlights the critical importance of transparency in executive relationships, particularly when those relationships involve individuals with criminal histories. The revelations also demonstrate how personal connections can have severe professional consequences, as evidenced by Staley’s ban from the UK financial sector—a reminder that regulators are increasingly holding executives accountable not just for their business decisions, but for their personal associations and the potential reputational risks they pose to institutions under their leadership.
