President Barack Obama today named Jeffrey Zients the acting director of the Office of Management and Budget, replacing Jack Lew, who is set to take over as White House chief of staff later this month.

Zients, Obama’s chief performance officer, is already a Lew deputy at OMB, and he was front-and-center last week at the rollout of Obama’s proposal for fast-track authority to consolidate agencies, starting with an overhaul of the Commerce Department.

“Since Day One, Jeff has demonstrated superb judgment and has provided sound advice on a whole host of issues,” Obama said in a statement. “With decades of experience, Jeff has been a tremendous asset to our team, and I’m confident in his ability to help us rebuild an economy where hard work and responsibility pay off and the middle class has a chance to get ahead.”

Zients also served as acting director of OMB from July to November 2010.