Institutional Shareholder Services (ISS) has recommended Barclays investors re-elect all board members at next month's annual meeting, sapping the momentum of protests against bosses for supporting former CEO Jes Staley who is being investigated over his links with sex trafficker Jeffrey Epstein.
The influential proxy advisor said in a report published on Monday that "questions may be posed" as to the board's judgment in its decision to back Staley between 2019-2021, but it may be too soon for those questions to influence director elections.
At the time of his resignation, Barclays said the preliminary conclusions of investigations by British financial regulators into how truthful Staley was about his ties to Epstein made "no findings that Mr Staley saw, or was aware of, any of Mr. Epstein's alleged crimes." Staley has acknowledged having been friendly with Epstein, but expressed regret for their relationship and has denied knowing about the financier's criminal activities.
The notice also said Staley's unvested long-term bonuses remained suspended pending further developments, adding that the board would "consider further action as appropriate".
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