As CEO Vikram Pandit continues his massive overhaul of Citigroup's operations, he is reaching out to some unusual help: former Citigroup CEO John Reed.
Reed, who was ousted from the firm about eight years ago by then co-CEO Sandy Weill, is now consulting with Pandit on how to re shape the massive financial services conglomerate.
Sources tell CNBC that Reed is consulting with Pandit primarily on the consumer banking end of the business—basically how to reshape it and what possible cuts to the business might be made as part of Pandits overhaul of Citi’s operations.