Barclays’s plan to name Jes Staley as chief executive adds a new dimension to the lender’s love-hate relationship with investment banking—and introduces fresh uncertainty over strategy.

Barclays shares dipped 2.85% on October 13 on the news that the former head of investment banking at JP Morgan Chase is lined up to become CEO, pending regulatory approval. Analysts said they are concerned that Staley's appointment could mean a lurch back toward investment banking after a series of stops and starts in the scaling back of the division under former CEO Antony Jenkins. If so, that could require more capital, analysts warned.