CHICAGO (AFP) - President-elect Barack Obama extended a bipartisan olive branch by meeting his vanquished Republican rival John McCain Monday, but a cabinet job was not expected to be on offer. The meeting in Chicago between the victor of the November 4 election and the Arizona senator put substance to Obama's promise of reaching out to old opponents as he crafts an expansive agenda for the next four years. According to reports, Obama's transition team is conducting an in-depth vetting of the finances of his former primary rival Hillary Clinton and her husband Bill Clinton with a view to naming her his secretary of state. In an interview on CBS program "60 Minutes" that aired late Sunday, Obama confirmed that he had met with the former first lady in Chicago last week but refused to say if he made her a job offer. The Democrat also said he would name at least one Republican to his cabinet, but again was coy when pressed for details. Obama noted that his political hero, Civil War president Abraham Lincoln, assembled a hard-driving "team of rivals" drawn from his opponents for the Republican nomination in 1860. "I've been spending a lot of time reading Lincoln," he said in the interview. "There is a wisdom there and a humility about his approach to government, even before he was president, that I just find very helpful." A transition source said the Democratic president-elect would not go as far as offering McCain a post in his cabinet. While the Republican gave a gracious concession speech on November 4 and pledged to work with his new commander-in-chief, the two differ markedly on how to rescue the economy and on Obama's determination to end the war in Iraq. But aides said there was still plenty to discuss between Obama and a politician who has often bucked Republican Party orthodoxy down the years, including on immigration reform. "It's well known that they share an important belief that Americans want and deserve a more effective and efficient government, and will discuss ways to work together to make that a reality," Obama's office said in a statement. The two politicians were joined at Obama's transition headquarters by McCain's close Senate friend, Republican Lindsey Graham, and Congressman Rahm Emanuel, whom the president-elect has chosen as his White House chief of staff. Lynn Tramonte, policy director at the pro-immigration group America's Voice, expressed hope for a new stab at US immigration reform after conservative opposition sank a law designed to bring 12 million illegals out of the shadows. "President-elect Obama and Senator McCain have been champions of immigration reform in the past, and they would make a formidable team going forward," she said.