Story highlights Feinberg serves on Trump's economic advisory council

"All I am saying is there is not an announcement at this time," a White House spokeswoman said

(CNN) The White House is considering tapping Stephen Feinberg, founder of a New York investment firm and a longtime friend to President Donald Trump, to conduct a review of US intelligence agencies, according to US officials with knowledge of the plans.

There are still many issues to work out, especially because the Director of National Intelligence -- by statute -- has oversight over the agencies and is the President's prime contact on all intelligence issues, one of the sources said.

An administration official confirmed the move is under consideration.

Feinberg, a billionaire who leads the private equity firm Cerberus Capital Management, was a top economic adviser to Trump during the 2016 campaign and has been one of the President's friends for decades.

The New York Times first reported the plans and said Feinberg has informed his company's shareholders he is in discussions to join the administration.

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