CHICAGO (CBS) — Alexi Giannoulias says contrary to reports that surfaced Friday morning, he is not running for mayor.

“To put all rumors to rest, before they get out of hand, Alexi is not running for mayor,” spokeswoman Kathleen Strand said in a statement Friday. “He didn’t get into public service to just run for office. He believes in public service, and his plans are to faithfully serve out the remainder of his term as Treasurer and then pursue other opportunities.”

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Earlier in the day, the rumor was that the Democrat Giannoulias, who lost to Republican Mark Kirk on Nov. 2, was going to meet later Friday with about half a dozen aldermen to hear what they have to say about a possible mayoral run.

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Even though he lost, Giannoulias picked up about 80 percent of the vote in the city of Chicago for the Senate seat formerly held by President Barack Obama, and he enjoys strong name recognition.

Analysts said Giannoulias was preferred by some aldermen, who fear Rahm Emanuel will attempt to run the City Council with an iron fist if he is elected.

Giannoulias, 34, rose to prominence when he was elected state treasurer in 2006 with the backing of then-Senator Obama.

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But as he began his Senate campaign, he was taken to task for his association with his family’s Broadway Bank, which failed in April. The bank was also the subject of revelations that it loaned $20 million to two convicted felons.