Obama Names William Daley Chief of Staff

President Obama named veteran political manager William Daley to be his new chief of staff today, selecting a centrist with Wall Street ties to help navigate a newly divided Congress and a looming re-election. "Few Americans can boast the breadth of experience that Bill brings to this job," Obama said at the White House as Daley, 62, stood at his side. "But most of all, I know Bill to be somebody who cares deeply about this country."

Daley, a former commerce secretary under Bill Clinton, comes from the dynastic Chicago family of politics. He is now a banking executive for JPMorgan Chase. He replaces Pete Rouse, who replaced Rahm Emanuel, who left to run for the Chicago mayoral post vacated by Daley's brother, Richard. Click for more on Daley. (More William Daley stories.)