Paulson to replace Snow as US treasury secretary

Henry Paulson, CEO of Goldman Sachs Group, will succeed John Snow as the US treasury secretary.
according to senior administration officials.

US President George Bush is expected to shortly make an announcement stating the resignation of current treasury secretary John Snow and the nomination of Henry Paulson to replace him, a senior administration official said.

"Paulson's appointment will enthuse global markets as he has Wall Street experience," sources said.