William M. Daley
William M. Daley | |
|---|---|
| Born | William Michael Daley August 9, 1948 Chicago, Illinois, U.S. |
| Occupation(s) | Political figure, banking executive |
| Known for | 24th White House Chief of Staff, 32nd U.S. Secretary of Commerce |
William Michael Daley (born August 9, 1948) is an American political figure and former banking executive who held the position of the 24th White House Chief of Staff from January 2011 through January 2012 during President Barack Obama’s administration. Earlier in his career, he served as the 32nd U.S. Secretary of Commerce from 1997 until 2000 under President Bill Clinton. Daley earned a Bachelor of Arts in Political Science from Loyola University Chicago in 1970 and obtained his Juris Doctor degree from John Marshall Law School in 1975.
Daley was a member of the executive committee at JPMorgan Chase & Co, where he played a key role in shaping the bank’s strategic direction. He sought the office of Governor of Illinois in the 2014 election but exited the race in September 2013. In the 2019 Chicago mayoral election, Daley finished third during the initial round, which prevented him from advancing to the runoff stage. From June to October 2019, he held the role of Vice Chairman at BNY Mellon. Subsequently, between 2019 and 2023, Daley served as Vice Chairman of Public Affairs at Wells Fargo, concentrating on corporate strategy and public relations.
Early life and education
Born on August 9, 1948, in Chicago, Daley is the youngest among seven siblings in the family of Richard J. Daley, who served as Mayor of Chicago from 1955 to 1976, and Eleanor "Sis" Daley. His brothers include former Illinois legislator John P. Daley and ex-Chicago mayor Richard M. Daley.
Daley completed his secondary education at St. Ignatius College Prep in 1966 before earning a B.A. at Loyola University Chicago. He then attained his J.D. from John Marshall Law School, which later honored him with an honorary Doctor of Law degree. His legal career included private practice with Daley and George, except for a period between 1977 and 1980 when he was appointed to serve on the Advisory Council of Economic Opportunity.
Professional career
Daley's professional journey began at the Amalgamated Bank of Chicago, where he was vice chairman from 1989 to 1990, followed by his tenure as president and chief operating officer from 1990 to 1993. Afterward, he returned to legal practice as a partner at Mayer, Brown & Platt between 1993 and 1997.
In 1993, President Bill Clinton appointed Daley to the board of Fannie Mae, a position he held until 1997.
As U.S. Secretary of Commerce from 1997 to 2000, Daley managed significant responsibilities including overseeing the 2000 census, promoting minority business development initiatives, and leading economic programs credited with creating approximately 23 million jobs. He stepped down to direct Al Gore’s presidential campaign in 2000.
Daley assumed the presidency of SBC Communications in December 2001. Following JPMorgan Chase's acquisition of Bank One Corporation in May 2004, he became Midwest Chairman for the bank. Between 2007 and 2010, he directed JPMorgan Chase’s Corporate Responsibility program. His board memberships have included companies such as Boeing, Merck & Co., and Boston Properties, as well as Loyola University Chicago. Additionally, he serves as a trustee for Northwestern University and participates in the Council on Foreign Relations. In recognition of his civic contributions, Daley received the Chicago History Museum's "Making History Award" for Civic Leadership in 2010. In 2014, he took on the role of managing partner at Argentière Capital AG.
On November 7, 2019, Daley was named head of Public Affairs and Vice Chairman at Wells Fargo, with his appointment becoming effective on November 13, 2019.
Political career
William M. Daley played a pivotal role in his brother Richard's victorious 1980 bid for Cook County State's Attorney, marking the beginning of the Daley family's significant influence over Chicago and Cook County politics. Throughout Richard’s tenure as Chicago's mayor, William remained actively involved in supporting his brother’s electoral efforts and administrative initiatives.
Clinton administration
In 1993, Daley was named Special Counsel to President Bill Clinton, where he was instrumental in building bipartisan consensus for the North American Free Trade Agreement (NAFTA). He skillfully coordinated collaboration among the White House, Congressional leaders, and private sector stakeholders, showcasing his adeptness in managing intricate political dynamics.
Daley was appointed Secretary of Commerce in 1997 and served until 2000. His tenure emphasized boosting U.S. exports, broadening trade prospects, and encouraging partnerships between government and business to stimulate economic development. He championed free trade policies and worked to modernize trade infrastructure to strengthen America's position in the global market.
Presidential politics
Daley stepped down from his role as commerce secretary to assume the position of general chairman for Vice President Al Gore's presidential campaign, succeeding Tony Coelho. His involvement in the 2000 Florida election recount was dramatized in the HBO film Recount, where actor Mitch Pileggi portrayed him.
During the 2008 Democratic primary season, Daley emerged as a prominent supporter of Barack Obama. On November 5, 2008, he joined the advisory board of the Obama-Biden Transition Project.
Obama administration
On January 6, 2011, President Barack Obama appointed Daley as White House Chief of Staff, with Daley officially assuming the role on January 13. He followed Rahm Emanuel, who departed to pursue Chicago’s mayoralty, and interim chief Pete Rouse.
In March 2011, Daley suggested that the administration might consider tapping into the Strategic Petroleum Reserve if oil prices surged due to unrest linked to the Arab Spring, underscoring President Obama's vigilance and contingency planning to safeguard the U.S. economy. He also noted that global production capacity was sufficient to absorb disruptions stemming from Libya.
Daley was featured in the renowned White House Situation Room photograph taken on May 1, 2011, during Operation Neptune Spear. Later that month, he accompanied President Obama on a State Visit to the United Kingdom.
In October 2011, Daley announced his intention to return to Chicago following President Obama’s re-election campaign. He resigned as chief of staff on January 9, 2012, with Jack Lew named as his successor.
Post-Obama administration
After the 2012 presidential election, reports surfaced that Daley was contemplating a gubernatorial run in Illinois for 2014. He remarked, "I've thought about it before and I don't take it off the table," while highlighting the complexities involved and stressing that legislative developments would influence any potential campaign decisions.
2014 Illinois gubernatorial campaign
On June 10, 2013, Daley established an exploratory committee for Illinois’ governor race. Shortly thereafter, on July 2, New York Mayor Michael Bloomberg publicly endorsed him. Daley formally announced his candidacy on July 30 to challenge incumbent Governor Pat Quinn in the Democratic primary. However, on September 16, 2013, he unexpectedly withdrew from the race citing personal challenges associated with campaigning.
Following the election cycle, Daley co-led the transition team for Governor-elect Rauner’s administration. In addition, during the 2018 Illinois gubernatorial contest, he oversaw financial operations for candidate Chris Kennedy’s campaign.
2019 Chicago mayoral campaign
Following the decision of two-term mayor Rahm Emanuel not to run for another term, Daley announced his intention to run on September 14, 2018. This election marked the fourteenth time a Daley family member entered the Chicago mayoral race, continuing a legacy established by his father and brother who had been influential in elections from 1955 through 2007.
Daley advocated for considering a commuter tax and suggested downsizing the Chicago City Council from 50 seats to just 15. Among four candidates connected to Alderman Edward M. Burke, whose corruption scandal cast a shadow over the contest, Daley’s association was regarded as the least significant.
He secured support from Chicago’s business sector and earned endorsements from editorial boards including those of the Chicago Tribune, Crain's Chicago Business, and The Chicago Crusader. His labor endorsements included Plumbers Local Union 130. Notable political figures such as Al Gore, Emil Jones, Joseph P. Kennedy II, and Bobby Rush also publicly backed his campaign.
Daley prioritized fundraising efforts, significantly surpassing his opponents in financial resources. A major donor was Illinois billionaire Kenneth C. Griffin, whose involvement attracted scrutiny due to his prior support for Republican Bruce Rauner’s unsuccessful 2018 gubernatorial bid. This financial advantage allowed Daley to launch prominent advertising campaigns, although his ground game was less extensive compared to some rivals.
In the closing weeks of the race, Daley’s polling numbers rose despite facing attack advertisements funded by the union-backed Fight Back for a Better Tomorrow Super PAC. Polls suggested a strong chance of moving forward, but he ultimately finished third with 82,294 votes (14.78%), falling short of the runoff by 7,049 votes behind second-place candidate Toni Preckwinkle.
Personal life
Daley married Bernadette Keller in 2010; she is an organ donor and founding director of the Chicago Transplant Ethics Consortium. In 2006, Keller acquired a 2,052-square-foot apartment in Park Tower on North Michigan Avenue for $1.48 million; the couple sold this residence in 2015 for $1.4 million. Presently, they live in a four-bedroom condominium located on North Lake Shore Drive.
He is a father to four children and has three adult children along with three granddaughters residing in Chicago.