Rattner said the advisory committee was essentially acting as a private equity group would in making a decision on how to invest in a company.

FORBES: Rattner's Rosy Outlook

As London is the world's fifth largest city, with a hugely diverse cultural population, it makes the perfect testbed, said Mr Rattner.

BBC: Intel to use London as a smart city lab

"Poring over the data from such an event to see what systems worked and which didn't - that is a great experiment in the the making, " said Mr Rattner.

BBC: Intel to use London as a smart city lab

"Intel and Facebook are collaborating on a new disaggregated, rack-scale server architecture that enables independent upgrading of compute, network and storage subsystems that will define the future of mega-datacenter designs for the next decade, " said Justin Rattner, Intel's chief technology officer during his keynote address at Open Computer Summit in Santa Clara, Calif.

ENGADGET: Facebook's Open Compute Project splits up monolithic servers with help from Intel, more

"In 2050, most of the nine billion people in the world will live in cities, " said Intel's chief technology officer Justin Rattner.

BBC: Intel to use London as a smart city lab

Mr. Rattner met with the adviser, a person familiar with the matter said.

WSJ: Rattner Near Deal to Settle SEC Case

There have been settlement talks with Mr. Rattner but an agreement wasn't imminent, people familiar with the matter said on Wednesday.

WSJ: Hevesi 'Pay to Play' Guilty Plea Would Turn Attention to Rattner, Morris