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.
Harrison Beale & Owen will (HB&O) have a new chairman and managing director at the helm for 2017
Satvir Bungar promoted to managing director in the mergers and acquisitions team
Carolyn Brown appointed as the first head of client legal services practice RSM Legal
UK senior partner Phil Verity has been elected for a second term at Mazars