Barclays is preparing to name former JP Morgan Chase executive James Staley as its next chief executive, as the British institution turns to an American investment banker to lead it out of a rut.

The appointment could be made in the coming weeks, a person familiar with the matter said. It follows a three-month search led by Barclays executive chairman John McFarlane after the ouster of former chief executive Antony Jenkins in July over concerns about lackluster performance.