FACTBOX: Obama administration begins to take shape

(Reuters) - President-elect Barack Obama on Wednesday named former Federal Reserve Chairman Paul Volcker as chair of a new panel that will advise him on stabilizing financial markets and averting a painful recession.

This is the latest in a number of announcements by Obama on who will serve in his administration when it takes office January 20.

Here are people Obama has chosen or is said to be considering for key posts. Many remain subject to vetting and Senate confirmation before taking office.

SECRETARY OF DEFENSE

* Current Defense Secretary Robert Gates, named by President George W. Bush in late 2006, is considered a moderate voice on the Republican's national security team and could embody an important signal of continuity. A senior Democratic source told Reuters that Obama intended to ask him to stay on and that he was likely to accept.

NATIONAL SECURITY ADVISER

* Retired Marine Gen. James Jones, the former top operational commander of NATO, is a leading contender for White House national security adviser. Jones is widely respected by both Democrats and Republicans but has avoided aligning himself with either party. But he is known to have been a strong critic of the Bush administration's handling of the Iraq war.

TREASURY SECRETARY

* Timothy Geithner, president of the New York Federal Reserve Bank, is Obama's choice for the Treasury Department, making him Obama's point person in dealing with the economic crisis. Geithner has helped lead efforts to stabilize financial markets and argued that banks crucial to the global financial system should operate under a unified regulatory framework.

NATIONAL ECONOMIC COUNCIL

* Lawrence Summers has been chosen to head the council. He was Treasury secretary for the final 1 1/2 years of the Clinton administration and has been a senior adviser to Obama for several months, helping to guide his response to the financial meltdown.

ECONOMIC RECOVERY ADVISORY BOARD

* Paul Volcker, the former head of the Federal Reserve, was named to head this new group. Volcker, who is credited with taming inflation a generation ago, will provide advice on steering the United States out of recession and stabilizing financial markets.

SECRETARY OF STATE

* New York Sen. Hillary Clinton, Obama's former rival for the White House, is said to have accepted the post of secretary of state, The New York Times reported. A senior Clinton adviser has said the report was premature, but added that discussions were on track. Clinton's appointment is expected to be made official after the November 27 Thanksgiving holiday.

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