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Fried will replace Jose Manuel Barroso, who was the former European Commission president, according to the report.
The announcement is expected next week and Fried will assume his role in February next year, the report said.
Fried’s appointment as chairman of GSI would be subject to regulatory approval, although his appointment as a board director would not require such approval, the report added citing a source.
Goldman Sachs declined to comment when contacted by Reuters.
Fried stepped down as the Chair of BoE’s Court last June after 4 years with the central bank.
