UT (Tax & Chancery) UT-2023-000064 - [2025] UKUT 00203 (TCC)

On or around 2 September 2019, Mr Staley became aware that Bowdoin College intended to write an article about Mr Epstein and trustees’ links with him. Mr Doherty’s recollection is that on Saturday 7 September 2019, Mr Staley called him and explained that as a result of the article, the President of the College and the Trustee Board had expressed concerns about Mr Staley’s role as a trustee and wanted Mr Staley to provide them with an account of his relationship with Mr Epstein.

It was decided that Mr Staley would provide an account, which it was later decided would be delivered in person. Mr Staley’s evidence in his witness statement, which was not challenged, was that he “wanted to ensure that Barclays were involved in the preparation of the response to the College since [he] believed that the information that was being assembled in order to answer the College’s enquiry would also be required by Barclays in order to answer the FCA’s enquiry”. This accorded with Mr Hoyt’s recollection in his cross-examination.

On 10 September 2019, Mr Doherty produced a first draft (with assistance from Mr Hoskin, a member of his team). There appears to have been a call that day at 14.15 between Mr Staley, Mr Doherty, Ms Wiggins, Mr Hoyt and Mr John Farmer (Mr Staley’s personal lawyer) to discuss the draft which was then sent by Mr Doherty to Mr Hoyt and Mr Farmer, copying Ms Wiggins.

Later that evening, on 10 September 2019, Mr Doherty sent an updated draft which incorporated comments from Mr Hoyt, albeit not from Mr Farmer. This time Mr Doherty copied Mr Staley. Later that evening, at around 20.45, Mr Staley had a call with Mr Higgins (which Ms Wiggins and Mr Hoyt joined), in which Mr Staley ran through what he proposed to say to the Bowdoin College Trustees.

On 11 September 2019, Ms Wiggins and Mr Staley flew to New York. That day, at 15:05 (London time), Ms Wiggins sent an updated draft to Mr Doherty, copying Mr Hoyt. She noted: “He wants to take out the emotion and make it much more factual.” Mr Staley accepted in his witness statement that he had no reason to doubt that this was a comment made by him to Ms Wigginsalthough in cross-examination he said that it might have been Mr Farmer. Ms Wiggins had a clearer recollection, which was that: “Mr Staley was concerned that Mr Doherty would often write in an emotive fashion, but Mr Staley wanted the document to be super clear and stick to the facts.” This, according to Ms Wiggins, was the second draft Mr Staley had seen. Mr Doherty responded with minor amendments, which appears to have been sent at 10.50 New York time – i.e. 15.50 London time). Ms Wiggins also sent her version onto Mr Staley and asked him to let her know if he wanted “any more changes”.

On 12 September 2019, there was a meeting in Mr Staley’s office in the New York Barclays office to discuss and finalise the Talking Points. Ms Wiggins, Mr Staley, Mr Hoyt, and Mr Farmer were all there in person with Mr Doherty on the telephone. The discussions went on late into the evening. Ms da Silva, Mr Staley’s personal assistant was present in New York.

It is clear, as Mr Hoyt confirmed in his cross-examination, that whilst Mr Staley sought to distance himself from the drafting, he had close involvement, having seen two drafts already before 12 September. The purpose of the 12 September meeting was, as Mr Hoyt said in his evidence, to ensure that the document fairly reflected what Mr Staley wanted to say. Mr Hoyt said that Mr Staleywas a very active participant in the discussion and was the main source of what was said in the document. He said that the Bowdoin College Talking Points were fashioned by Mr Staley walking through what had happened and trying to represent his recollection of his relationship with Mr Epstein. We have no reason to doubt that evidence.