UPDATE 1-Israel picks ex-cenbank chief Frenkel to succeed Fischer-report
(Adds no comment from PMO, Finance Ministry, background)
JERUSALEM, June 23 (Reuters) - Israel has chosen former central bank chief Jacob Frenkel to return to the post, Israeli media reported on Sunday.
The Prime Minister's Office and Finance Ministry declined to comment on the reports from two Israeli TV channels.
Frenkel was governor of the central bank between 1991 and 2000 and was widely credited with reducing inflation in Israel, liberalising the country's financial markets and removing foreign exchange controls.
He is currently chairman of JPMorgan Chase International and also served as vice chairman of insurer American International Group (AIG) as well as chairman of Merrill Lynch International.
Frenkel would succeed Stanley Fischer, who steps down at the end of the month after eight years on the job.
(Reporting by Steven Scheer)