British banking giant Barclays has appointed former JPMorgan Chase banker James Staley as its new group chief executive.

Barclays has been in search for a new chief since it fired Antony Jenkins in July 2015. Jenkins replaced Bob Diamond in July 2012

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Staley, who will assume his new role on 1 December 2015, will also join the Barclays Boards as a director.

Staley, who worked for more than three decades at JPMorgan, served as chief executive of JP Morgan Chase’s investment bank.

Currently, Staley works as managing partner at hedge fund BlueMountain Capital Management.

Barclays said that the recruitment of a new CEO was managed by the Barclays Board Nominations Committee, which was chaired by Barclays deputy chairman and senior independent director, Sir Michael Rake.

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Barclays chairman John McFarlane said: "In Jes Staley we believe we have an executive with the appropriate leadership talent and wide-ranging experience to deliver shareholder value and to take the Group forward strategically. In particular, he understands corporate and investment banking well, the re-positioning of which is one of our major priorities.

"After an extended process, I now know Jes well, and we are in agreement on the way forward. I look forward to working with him in what will be an exciting and important period for our company as we seek to accelerate the delivery of improved shareholder returns."

Sir Michael Rake said: "The Nominations Committee has conducted a wide-ranging search process and considered the credentials of multiple strong candidates to be the next Group CEO of Barclays. We are unanimous in our view that Jes Staley is the right man for that role, we wish him every success, and he will have our full support."