Obama to nominate Gruenberg to head FDIC: White House

WASHINGTON (Reuters) - President Barack Obama plans to nominate Martin Gruenberg to be the next chairman of the Federal Deposit Insurance Corp, a top U.S. banking regulator, the White House said on Friday.

Gruenberg joined the FDIC board in 2005 and is currently the regulator's vice chairman. The term of the current chairman, Sheila Bair, is up in June.

The post requires Senate confirmation.