Obama to Name New Economic Advisor Friday: Report

President Barack Obama has chosen Jeffrey D. Zients as the chief White House economic advisor, an appointment which will be announced on Friday, the New York Times reported on its website.

Zients, an entrepreneur who served as the president’s acting budget director twice, will succeed Gene B. Sperling who is leaving for personal reasons. The report said several administration officials confirmed the change, which also won’t represent any big shift in Obama’s agenda.

Sperling has spent nearly three years at the White House and two at the Treasury Department. Zients was also a past candidate for two cabinet positions.

Source: MarketWatch