President Barack Obama might pick Roger Ferguson, the chief executive officer of TIAA-CREF, or Donald Kohn, a former Fed vice chairman, to be the next chairman of the Federal Reserve, former Securities and Exchange Commission Chairman Arthur Levitt said.

Fed Vice Chairman Janet Yellen might be passed over for the post after Lawrence Summers, the former Treasury secretary, withdrew his name from consideration during the weekend, Levitt said in an interview on Bloomberg Radio.

Levitt is an adviser to Goldman Sachs Group Inc. and on the board of Bloomberg News parent Bloomberg LP.