<p><br /> US President Barack Obama has chosen JP Morgan Chase executive William Daley to be his new White House Chief of Staff as part of a major retooling of his team.<br /> </p><p><br /> By picking Daley, Obama is bringing in an outsider who was not part of his original inner circle and someone who has deep business experience at a time when fixing the US economy is Obama's greatest challenge ahead of his 2012 re-election bid.<br /> </p><p><br /> Daley's choice, along with the expected selection of Treasury Department official Gene Sperling as a senior economic adviser, would mean a return to the White House of experienced hands from their days working for Democratic President Bill Clinton, who presided over a growing economy.<br /> </p><p><br /> "He possesses a deep understanding of how jobs are created and how to grow our economy," Obama said of Daley.<br /> </p><p><br /> Current Chief of Staff Pete Rouse, a long-time Obama adviser who relishes a behind-the-scenes role, is being moved to the senior advisory position of Counselor to the President.<br /> </p><p><br /> Obama is conducting a shakeup of his White House staff to prepare for the next two years of divided government - with Republicans now in control of the US House of Representatives -and to lay the groundwork for his 2012 re-election campaign.<br /> </p><p><br /> Daley, who was Clinton's commerce secretary, met Obama and other officials at the White House on Wednesday to discuss the job.<br /> </p>
