An unnamed source thought to be familiar with the matter said that Mr Daley, who used to work as a commerce secretary for the US authorities, maybe in line to take on the role of chief of staff within the government.
Bloomberg reported that hiring the senior figure from JPMorgan would be a way for the US president to improve relations between his government and the American business community.
Mr Daley currently works for the investment bank as its head of corporate responsibility and Midwest chairman.
The decision to employ the JPMorgan executive is one of a number of staffing issues President Obama needs to address.
Pete Rouse is currently working as interim chief of staff following the resignation of Rahm Emanuel last year.
The president also needs to decide on who will be successor to Larry Summers, the governmentâs chief economic advisor.
By Jim Ottewill