Sources told ABC News that President Barack Obama is considering naming him chief of staff.
Bill Daley is currently an executive with J.P. Morgan Chase. He formerly served as Secretary of Commerce under President Bill Clinton.
President Obama's first chief of staff, Rahm Emanuel, left the post to run for mayor of Chicago after Richard Daley decided to retire.
Staffers at Bill Daley's office said he is aware of the reports but not commenting at this time.
Former White House senior adviser Pete Rouse is currently serving as chief of staff, a position he said he did not want to do on a permanent basis. Sources said he and President Obama have yet to have a conversation about what to do going forward.