WASHINGTON  He is a top executive at JPMorgan Chase, where he is paid as much as $5 million a year and supervises the Washington lobbying efforts of the nation’s second-largest bank. He also serves on the board of directors at Boeing, the giant military contractor, and Abbott Laboratories, the global drug company, which has billions of dollars at stake in the overhaul of the health care system.

And now William M. Daley, the son and brother of Chicago mayors and a behind-the-scenes political player himself, will hold one of the most powerful jobs in Washington: chief of staff in the White House, where he will help decide who gets into the Oval Office and what President Obama’s Capitol Hill agenda should be.

Mr. Daley’s recruitment to Pennsylvania Avenue from the corporate boardroom is seen as a smart step by some in Washington, who argue that Mr. Obama has long needed a White House confidant who has the ear of the business community and a record of bipartisanship that might help the president negotiate with Republicans in Congress.

“I think it’s a very, very strong choice,” said Thomas J. Donohue, the president of the U.S. Chamber of Commerce, which has been a harsh critic of the Obama administration and provided financial support that helped Republicans take control of the House in the November elections. “Daley is a business person who understands politics.”