Obama picks JP Morgan's Daley as chief of staff

William Daley speaks in Nashville to announce that Al Gore retracted his concession to then Republican presidential candidate Texas Gov. George W. Bush, November 8, 2000.

Credit: Reuters/Win McNamee

WASHINGTON | Thu Jan 6, 2011 12:22pm EST

WASHINGTON (Reuters) - President Barack Obama on Thursday picked JP Morgan Chase executive William Daley as his new White House chief of staff as part of a major retooling of his team, a senior White House official said.