Obama woos JP Morgan exec

City A.M. Reporter
US PRESIDENT Barack Obama is considering tapping JP Morgan Chase executive William Daley for a senior role in the White House, such as chief of staff.

Daley, who is Midwest chairman of JP Morgan Chase and head of corporate social responsibility, was also a former commerce secretary.

If he were chosen, the move would help satisfy a clamour in the business community to have greater representation for private industry within the administration.

Daley would bring with him a breadth of experience in business. He serves on the board of Boeing and has served in the past as director at Merck. He is also a past president of SBC Communications.

A source close to the matter cautioned that no decision had been made. Obama, on the last leg of his Hawaiian vacation, has been considering an array of staffing decisions during his break.

One of the biggest decisions confronting him when he returned yesterday is a replacement for top economic adviser Larry Summers. Democratic sources say senior Treasury official Gene Sperling has emerged as the leading candidate.

Many businesspeople had hoped Obama would fill Summers’ job as director of the National Economic Council with a private sector figure, but Sperling’s career has been heavily focused on public policy.

In another staff move, Obama is weighing whether to elevate Ron Bloom to a broader manufacturing post at the White House. The leader of Obama’s automotive task force is currently focused on overseeing the restructuring of GM and Chrysler.