President Barack Obama is considering naming former Commerce Secretary William Daley to a top White House post, perhaps chief of staff, The Associated Press reported.
Daley, 62, is a JPMorgan Chase (JPM) executive and brother of Chicago Mayor Richard Daley. His appointment could help the Obama administration deflect charges that it is hostile to the business community.
The appointment would be part of a broad restructuring of the White House staff. Former chief of staff Rahm Emanuel resigned last year in order to run for Chicago mayor, while advisor David Axelrod will quit this month. Axelrod is expected to play a central role in Obama's reelection campaign.
Peter Rouse, who has served as chief of staff since Emanuel quit, has been leading a staff review for the White House, the AP said. Obama has been considering the review and changes are expected to unfold in the coming weeks.
Daley would be a high-profile appointment with a long track record in state and national politics. He served as a special counsel to President Bill Clinton, helping to coordinate the campaign to pass the North American Free Trade Agreement. He later served as Clinton's commerce secretary, and ran Al Gore's 2000 presidential campaign.
After Gore lost the 2000 election, Daley entered the private sector. He currently works as Midwest chairman of JPMorgan Chase. Rumors have circulated that he planned to run for elected office, but he never took the plunge.
The Daley family backed Obama's presidential campaign despite strong ties with Bill and Hillary Rodham Clinton.
What are Penny Stocks
The lucrative and dangerous world of penny stocks.View Course »