President Barack Obama today announced that his new chief of staff will be Bronx native Jacob 'Jack' Lew. Lew, formerly the president's budget chief, will take the reigns from William Daley, who served as Obama's chief of staff for one year before abruptly stepping down. President Obama said he did not take Daley's resignation lightly, as he has been a long-time confidante. However, the president praised Daley's replacement as a qualified man who's no stranger to the West Wing. "I have every confidence that Jack will make sure that we don't miss a beat... in continuing to do everything we can to strengthen our economy, and the middle class, and keeping the American people safe," President Obama said. Lew and his wife have a home in the community of Riverdale.