Barclays to name Jes Staley as new chief executive

Britain’s third base most popular shore Barclays PLC is stop to baptism former JPMorgan Chase banker Jes Staley as its new ceo, anyone by having familiarity with the case said on Monday.

The appointment, which is still subject to regulatory approval, could be made in the coming weeks, a person familiar with the matter said.

Picking Staley could see Barclays put renewed focus on its investment bank, which the bank has been shrinking in the past three years in an effort to cut costs and improve profitability. Chairman John McFarlane took over as interm CEO at that time. He joined $12 billion hedge fund BlueMountain Capital, co-founded by former J.P. Morgan credit derivatives specialist Andrew Feldstein, in January 2013 after being passed over for promotion.

Shareholders are also expected to keep a keen watch on the pay package agreed for the new boss in light of previous controversies over bonuses at the bank.

Barclays fired Mr. Jenkins in July after he implemented a strategy to make the lender less reliant on its investment banking operations.

He also holds a board seat at Swiss banking giant UBS.

The Financial Times has reported that ex-JP Morgan investment banker Jes Staley, who was offered the Barclays top job in 2010, is to be offered the job.