JPMorgan Chase may soon have a friend in the West Wing.
William Daley, the bank's Midwest chairman and a former Secretary of Commerce during the Clinton administration is in talks with White House officials to be chief of staff, according to several media reports.
Daley, the brother of Chicago Mayor Richard M. Daley, would bring business experience to the inner circle of the Obama administration and could help ease some of the tensions with the business and financial community.
Daley has been with JPMorgan Chase since 2004 and before that was president of SBC Communications. He was in President Clinton's cabinet from 1997-2000 and before that was on the board of mortgage buyer Fannie Mae.
He has been a mentor to Rahm Emanuel, who was chief of staff through October, and is now running to succeed Richard Daley as mayor of Chicago. Pete Rouse, who was President Obama's top aide in the Senate, is the interim chief of staff.
JPMorgan Chase is the second largest bank by asset size, with assets of $2 trillion.