Politico.com is reporting that President-elect Barack Obama intends to pick openly gay Fred Hochberg to head the Export-Import Bank.

Hochberg was the subject of a campaign by Equal Rep to name him Secretary of Commerce after New Mexico Governor Bill Richardson withdrew himself from consideration.

The gay rights group is also backing William White to the position of Secretary of the Navy.

Hochberg is the Dean of the Milano New School for Management and Urban Policy in New York City and was a leading fund-raiser for Senator Hillary Clinton's bid for the White House. He also served as the deputy administrator of the Small Business Administration under Bill Clinton.

According to ABC News, the Export-Import Bank of the United States is “the official export credit agency of the federal government ... [It finances] sales of goods exported from the US to international buyers.”

Gay rights groups expressed enthusiasm for the choice. Joe Solmonese, president of the Human Rights Campaign, the nation's largest gay and lesbian rights advocate, said in a statement: “The chair of the Export-Import Bank of the United States is an important position in President-elect Obama's economic team. Fred is one of the most highly qualified and experienced public servants in our community and the fact that President-elect Obama has tapped him for such an important economic position speaks well for the LGBT community.”

The appointment would make Hochberg the first openly gay director of the bank and the highest ranking gay man in the Obama adminstration.