Reports from the online editions of the Washington Post and the New York Times, say Snow, 63, the boss of freight transportation company CSX, has been appointed by president Bush.
His appointment will need to be approved by a legal and financial review, to be carried out by the White House.
Former Goldman Sachs chairman Steven Friedman is said to be replacing Lawrence Lindsey, the chief economic adviser to the president, who also resigned at the same time as O’Neill.
Both resignations are believed to be the result of pressure from the Bush administration, which, according to reports, did not feel the two men had the support of Congress or Wall Street.
Mark McMullen joins the private client services team from Smith & Williamson
Merger between Clear & Lane Chartered Accountants and Magma Chartered Accountants was finalised on 3 February
BDO has taken its new partner intake to 23 during the first half of its financial year, including the appointment of five partners in five weeks
The firm reports 7.6% global fee income growth for the year ending 31 December 2016