Trump, who would be sworn in as the 45th President of the US on January 20, made the announcement which will set the tone for the new White House.
Both the positions, which do not require Senate confirmation, would come into effect the day 70-year-old Trump replaces Barack Obama as the President of the US.
This unusual arrangement could create two power centers in the White House, the US media reported, citing the campaign statement which said the two men will be "equal partners."
"Steve and Reinceare highly qualified leaders whoworked well together on our campaign and led us to a historic victory. Now I will have them bothwith mein the White House as we work to make America great again," he said.
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Priebus and Bannon will continue the effective leadership team they formed during the campaign, working as equal partners to transform the federal government, making it much more efficient, effective and productive, the Trump Transition Team said in a statement.
They will also work together with Vice President-elect Mike Pence to help lead the transition process in the run-up to Inauguration Day, it said.
"We had a very successful partnership on the campaign, one that led to victory. We will have that same partnership in working to help President-elect Trump achieve his agenda," he added.
"It is truly an honour to joinPresident-electTrump in the White House as his Chief of Staff. I am very grateful tothe President-electfor this opportunity to serve him and this nation as we work to create an economy that works for everyone, secure our borders, repeal and replace Obamacare and destroy radical Islamic terrorism. He will be a great President for all Americans," Priebus said.
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