President Barack Obama selected Jeffrey Zients, a former private equity chief and White House aid, to replace Gene Sperling as head of the White House National Economic Council, the New York Times reports.
Zients joined the White House in 2009 as the President’s newly-created role of “chief performance officer” in the Office of Management and Budget, charged with finding ways to cut costs.
His selection is likely to leave Obama’s economic policy unchanged, says the Times, even as Sperling, known for his progressive domestic policy ideas, departs. Sperling, who held the post for three years, is expected to join Hillary Clinton’s campaign for president in 2016 if she runs.
The White House will officially announce the shift Friday.