Visa (NYSE:V) is reportedly planning to name a new chief executive officer as early as this month.

The Wall Street Journal reported Tuesday that the San Francisco-based card network is looking to replace 66-year-old CEO Joseph Saunders, who is expected to step down when his contract expires in March.

Citing anonymous sources, the Journal identified Charles Scharf, an executive at JPMorgan Chase (JPM), as the leading candidate for the top job at Visa. Scharf is a former Visa board member who ran Chase's retail banking division until 2011, when he became managing director of Chase's private-equity arm, One Equity Partners.

The leading internal candidate for the position is Elizabeth Buse, who oversees Visa's sales and service in Asia, central Europe, the Middle East and Africa, according to the Journal. Buse was recently named one of American Banker's 25 Most Powerful Women in Finance.

A Visa spokeswoman declined Wednesday to comment on the report.

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