Ex-Barclays boss to fight FCA in court over ties to Epstein

This week Jes Staley hopes to overturn a City ban in a case that will reveal his dealings with the late financier.

- Kalyeena Makortoff

Former Barclays chief executive Jes Staley is about to take a major gamble.

Nearly two and a half years after he was banned from the City for allegedly lying about the extent of his relationship with Jeffrey Epstein, the former banking boss is hoping to convince judges to overturn the reputation-shattering ruling.

But taking the UK's financial regulator to court could come at a personal cost. Challenging the Financial Conduct Authority (FCA) will mean dredging up potentially damaging allegations and having reams of correspondence paraded through an open courtroom for two weeks, as the regulator backs up its claims that Staley hid how close he was to the late sex offender.

Staley's efforts to restore his credibility will also force some of the biggest names in the City to take the stand in one of the most high-profile hearings to take place at London's Upper Tribunal in years.

Bank of England governor Andrew Bailey who led the FCA during Staley's tenure and Barclays chair Nigel Higgins have been dragged into the matter, and are due to give evidence and face questioning before the media from next week.