WASHINGTON (AP) _ President Bush has chosen financial services executive Ronald Tschetter to be the next director of the Peace Corps, the White House said Tuesday.

Tschetter replaces Gaddi Vasquez, who last month became U.S. representative to the United Nations food and agriculture programs.

Tschetter, a former Peace Corps volunteer in India and a former president of Dain Rauscher Inc., is now president of D.A. Davidson & Co. His nomination must be confirmed by the Senate.