(WASHINGTON) — Bill Daley has resigned as President Obama’s chief of staff. He will be replaced by Office of Management and Budget director Jack Lew.
ABC News confirmed the shakeup early Monday afternoon, ahead of a formal announcement from President Obama later in the day.
Daley, the son and brother of Chicago mayors, will take on a new role as a co-chair of the president’s re-election campaign.
Daley was brought in to replace Rahm Emanuel, but in November his role was “changed,” with more power given to senior adviser Pete Rouse. At the time White House officials insisted the move was in no way a demotion.
A former vice chairman at JPMorgan Chase, Daley was heralded as having skills that could help President Obama, namely ties to the business community, and an ability to work with Republicans as seen during his days as President Bill Clinton’s Secretary of Commerce.
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