Former RR Donnelley CEO Mark Angelson has been tapped by Chicago Mayor-elect Rahm Emanuel to chair a newly created Mayor's Council on Budget, Business Development and Economic Issues.

According to Emanuel's transition website, the group will be tasked with "completing a comprehensive examination of the City's budget in order to improve services and promote efficiency finding ways to spur economic growth and create jobs through close collaboration with businesses and community development organizations throughout Chicago."

The Chicago Sun-Times reports Angelson has agreed to serve as “Emanuel’s $1-a-year deputy mayor.”