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(Bloomberg) — David McCormick, the former Bridgewater Associates chief executive officer, will likely seek the Republican nomination for US Senate in Pennsylvania, the Associated Press reported Thursday.

He would be looking to take the seat now held by Bob Casey, a three-term Democrat and son of a former governor, as Republicans aim to take control of the Senate in next year’s elections. Democrats now control the chamber, 51-49. 

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The AP, citing unnamed sources, said McCormick, 58, had told people he planned to run and would announce his intentions next week. 

This would be his second foray into Pennsylvania politics. Last year, he lost a close Republican primary race to celebrity physician Mehmet Oz, who had the support of former President Donald Trump. Oz was later defeated by the Democratic candidate, John Fetterman.

McCormick’s entry into the 2024 Senate contest had been widely anticipated, he has been strongly encouraged to run by Senator Steve Daines of Montana, chair of the National Republican Senatorial Committee. Early this year, McCormick published a book in which he argued the right leadership could meld the Republican Party’s traditional conservatism with its populist energy. 

Earlier: McCormick Dishes on Clash With Trump as He Weighs New Senate Bid

During the primary battle with Oz, Trump dismissed McCormick as a “liberal Wall Street Republican.” In the book, he said he was surprised by the attacks because he supported many of the former president’s policies, had interviewed to be his Treasury secretary, and his wife, Dina Powell McCormick, served as his deputy national security adviser. 

McCormick, a West Point graduate, served in the first Gulf War and later was a deputy national security advisor under President George W. Bush.       

—With assistance from Laura Litvan.