President Barack Obama is prepared to nominate James Comey, a former Bush administration official with bipartisan credentials, as the next FBI director. In a possible warning sign, the top Republican on the Senate committee that would review the nomination said Comey would face questions about his ties to Wall Street.

Three people with knowledge of the selection said last week that Obama planned to nominate Comey, who was the No. 2 official at the Justice Department under President George W. Bush. Comey was general counsel to Westport-based hedge fund Bridgewater Associates from 2010 until earlier this year and now lectures at Columbia Law School.