Britain's big lenders have endured their fair share of drama in recent years but after controversies surrounding John Varley, Bob Diamond, Antony Jenkins and now Jes Staley, Barclays tops them all.
And now this. It feels, at times, as if Barclays is a cursed institution.
It is not yet clear when reports from the Financial Conduct Authority and Prudential Regulation Authority on Mr Staley's relationship with the disgraced financier Jeffrey Epstein will be published. One thing no-one will dispute is that, in the words of an internal memo from Mr Staley circulated at Barclays today, his response to those matters would distract from the work they did.
The chances are that, when the dust settles, the history books may be somewhat kinder to Mr Staley when it comes to his stewardship of Barclays itself., not least due to a stellar performance at its investment banking division, whose status in the wider Barclays Group was stoutly defended by Mr Staley in the face of a campaign by an activist investor, Edward Bramson, who had demanded it be hived off.and is one that shareholders will thank him for in coming years.
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