Troubled British bank Barclays is set to announce former JP Morgan banker James Staley as its new chief executive, indicating a renewed focus on its investment division, British press reports said yesterday. Barclays' board has approved the 58-year-old American's appointment and a formal announcement will be made in the next two weeks, according to media outlets including the BBC and the Financial Times. Staley, also known as Jes, is the former chief executive of JP Morgan's Investment Bank and currently works for US hedge fund Blue Mountain Capital Management. Barclays, plagued by the forex and Libor rigging scandals, announced in July that it had fired chief executive Antony Jenkins. Jenkins replaced Bob Diamond in July 2012 -- who himself was forced to resign after the damaging Libor rate-fixing scandal.