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White House Chief of Staff Bill Daley steps down White House Chief of Staff Bill Daley steps down
(40 minutes later)
White House Chief of Staff Bill Daley is stepping down, US President Barack Obama has said.White House Chief of Staff Bill Daley is stepping down, US President Barack Obama has said.
The president named Budget Director Jack Lew, a Washington veteran as his replacement. The president named Budget Director Jack Lew, a Washington veteran, as his replacement.
Mr Daley joined the White House staff in January 2011 to succeed Rahm Emanuel, who stepped aside as chief of staff to become mayor of Chicago.Mr Daley joined the White House staff in January 2011 to succeed Rahm Emanuel, who stepped aside as chief of staff to become mayor of Chicago.
Mr Daley, formerly a vice-chairman at JP Morgan Chase, said he would work with the president to re-election. Mr Daley, a former vice-chairman at JP Morgan Chase, had said he would work with the president until the elections.
He was said to have been brought in after the 2010 mid-term elections to rebuild relations with the business community. President Obama said Mr Daley had decided to leave his post at the White House in order to return to his hometown of Chicago and spend more time with his family.
"In the end the pull of the hometown we both love... was too great," he said, adding that the former banking executive had been an "outstanding" chief of staff.
President Obama announced the appointment of Mr Lew at the same time, saying that the new chief of staff would ensure he "won't miss a beat".
The two men - Mr Daley and Mr Lew - flanked the president as he made the announcement.
Mr Daley was brought in after the 2010 mid-term elections to rebuild relations with the business community, according to White House insiders.
But it has been reported that Mr Daley did not integrate well with the president's inner circle of political advisers.But it has been reported that Mr Daley did not integrate well with the president's inner circle of political advisers.
Mr Lew, is currently the director of the Office of Management and Budget, a position he also occupied under former President Bill Clinton. He has been a leading figure in Democratic fiscal policy since the 1980s. Mr Lew is currently the director of the Office of Management and Budget, a position he also occupied under former President Bill Clinton. He has been a leading figure in Democratic fiscal policy since the 1980s.
He has been cast as a "grey technocrat" and a "translator" - a man who is able to work with politicians on both sides of the aisle. He has been described as a "grey technocrat" and a "translator" - a man who is able to work with politicians on both sides of the aisle.
Mr Lew will officially take up his new role at the beginning of February, after work on the president's budget is complete.Mr Lew will officially take up his new role at the beginning of February, after work on the president's budget is complete.