William Daley's JP Morgan Stock: Obama's Next Chief Of Staff Has Millions Invested

The Huffington Post reports:

President Barack Obama's next chief of staff holds more than $7.6 million worth of stock in JPMorgan Chase, according to a regulatory filing.

William M. Daley, vice chairman at JPMorgan Chase, holds 175,678 shares in the $2.1 trillion behemoth, the nation's second-largest bank by assets. Daley headed the firm's Corporate Responsibility division, which included oversight of the firm's lobbyists and relations with government officials.

Daley exercised his holdings on Thursday, the same day Obama announced he was bringing in the former banker to run the White House. Daley acquired 201,913 shares to bring his total to 316,327, but sold 140,649 of those shares to cover tax liabilities, according to the filing with the Securities and Exchange Commission. JPMorgan shares closed at $43.40 on Monday.

A White House official said Daley will sell his stake in his former employer.

Bill Daley, "friend" and lobbyist of TARP.