Staley Sought Epstein’s Advice on His JPMorgan Pay, Emails Show

Former JPMorgan Chase and Co. executive Jes Staley often turned to sex offender Jeffrey Epstein for advice on a wide range of topics, including his salary negotiations at the bank and help with his daughter’s education.

(Bloomberg) — Former JPMorgan Chase and Co. executive Jes Staley often turned to sex offender Jeffrey Epstein for advice on a wide range of topics, including his salary negotiations at the bank and help with his daughter’s education. 

A summary of emails exchanged between the men, obtained by Bloomberg News, has detailed the depths of their personal and professional relationship when Staley was a top banking figure and Epstein a wealthy client. The emails also show that Epstein facilitated a meeting between Staley and Prince Andrew. 

The emails, which have not yet been made public in legal proceedings, are part of the ongoing lawsuit filed by the US Virgin Islands, accusing JPMorgan of knowingly benefitting from Epstein’s sex trafficking venture.

When Epstein was in prison in Florida after pleading guilty to soliciting a minor for prostitution in 2008, Staley emailed him asking for guidance on his compensation talks, potentially with JPMorgan chief executive officer Jamie Dimon, according to the summary.

“Jamie wants me to tell him how much I should make this year, given the expected bank results and my results,” Staley wrote to Epstein on July 16, 2008. “What do you think? I hope you’re managing. I miss our calls. Its boring without you around?”

A spokesperson for JPMorgan declined to comment. 

The men’s relationship has emerged as a key tension point in litigation between the bank and USVI, where Epstein often stayed on his private island Little Saint James. 

Epstein was a JPMorgan client between 1998 and 2013, when the bank cut ties with him after Staley’s departure. He died in 2019 in his prison cell after being charged with sex trafficking. 

Knowledge and Blame

Dimon has been deposed as part of the cases but vehemently denied ever meeting Epstein or being involved in decisions about his accounts. On June 12, two weeks after Dimon’s deposition, a Jane Doe victim of Epstein reached a proposed $290 million settlement with the bank. 

JPMorgan makes no admission of liability, Bloomberg previously reported.

Doe and the USVI have argued that Staley, who had a 34-year career at JPMorgan and rose to the level of CEO of the investment bank, knew about Epstein’s behavior. Therefore, they argued, so should have the bank.

But JPMorgan has denied any knowledge of Epstein’s trafficking and has attempted to shift the blame for retaining Epstein as a client on to Staley. 

In a separate lawsuit, the bank is suing Staley for misleadingly vouching for Epstein and is trying to claw back millions of dollars paid in compensation to the former executive.

Read More: JPMorgan Billionaire Whisperer Gets Flak Over Epstein Emails

JPMorgan Business  

Staley also turned to Epstein for advice on JPMorgan business, from connections with international business figures to seeking edits on draft announcements, the emails show.

“I’m trying to do two deals at the same time: buy dimensional and sell American century. It’s going to be an interesting fall. I will miss stopping by your office for advice,” Staley wrote to Epstein in 2008, when he was still in prison.

Epstein also told Staley how to navigate a management shuffle that would see him replace Steven Black as a the investment bank CEO in 2010.

“Steve and you should agree guidelines for comp, so it protects you from him promising someone something for next year that you will be forced to live with…your risk is he will make you look like the bad guy.”

Prince Andrew

In the tranche of newly-obtained emails, Epstein often wrote to Staley boasting about high-profile business and political leaders he claimed to be meeting with.

“Sorry didn’t get back to you last night…had sultan and one of Putins people here,” Epstein wrote in 2009. There were also references to women. “I’m here in Brazil with three beautiful women. Have a happy new year,” Staley wrote to Epstein in 2010.

Earlier that year, Epstein appeared to encourage Staley to meet with Prince Andrew.

“Andrew will try to see you on your trip to London,” he wrote in May 2010. Staley’s office later called Epstein’s assistant in September 2010, confirming Staley met up with Prince Andrew and was after his contact number, according to the summary.

In December 2010, Prince Andrew wrote to Staley wishing him a Merry Christmas and stating “sorry to have missed you this week.”

Staley replied: “I must say getting a Christmas note from The Duke of York is sort of cool.”

Virginia Giuffre, a victim of Epstein, later sued Prince Andrew, accusing the British royal of sexually abusing her when she was traveling with Epstein in 2001. Giuffre and Prince Andrew settled out of court in 2022.

Read More: Prince Andrew Sex Abuse Settlement Turns Focus on Royal Finances

Family Advice

The emails showed Staley also turned to Epstein for matters around his daughter. In 2009, Staley reached out to Epstein about his daughter’s admission into Columbia University in New York.

Epstein listed the names of well-known academics Staley’s daughter could have lunch with, the summary details. 

Expressing his gratitude in an email in 2011, Staley wrote to Epstein “you have paid a price for what has been accused. But we know what u have done for us. And we count you as one of our deepest friends.”

The cases are USVI v. JPMorgan Chase Bank, 22-cv-10904, and  Jane Doe 1 v. JPMorgan Chase Bank, 22-cv-10019, US District Court, Southern District of New York (Manhattan).

(updates with more details starting in graph 14)

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