Bill Daley will serve as co-chairman of President Obama's reelection campaign once he resigns as White House chief of staff, sources told The Hill. 

Shortly after Obama announced that Daley was stepping down as chief of staff on Monday, multiple members of Obama's reelection campaign confirmed that Daley would serve as co-chairman of Obama's reelection campaign.

"He’s got a ton of political experience, knowledge and contacts, and we look forward to leveraging those assets and working closely together to reelect the president this year," one of the reelection team members said.

Other co-chairmen will be announced in the next few weeks, the Obama campaign said.

Obama hinted that although Daley had stepped down and would be succeeded by Office of Management and Budget Director Jack Lew, Daley would still be involved in the administration. Obama said he would be calling Daley, who will be in Chicago, "quite a bit."

Daley submitted his letter of resignation last week.

"I have been honored to be a small part of your administration," Daley wrote in the letter, according to the Chicago Tribune. "It’s time for me to go back to the city I love."

Counting his predecessor, interim chief of staff Pete Rouse, Daley is the third chief of staff of the Obama administration. Chicago Mayor Rahm Emanuel served as chief of staff but stepped down to run for that position.