Details of the joint venture, to be called Giuliani Partners, were due to be announced this week, as the former mayor stood aside for the newly elected Michael Bloomberg, the news media tycoon. Although E&Y declined to give details of the deal, it is believed the Big Five firm will take a minority stake in the company, which will include a number of Giuliani’s senior advisers.
Giuliani was the architect of the so-called ‘zero tolerance’ policy in the 1990s, which cracked down on street crime in New York, though he will be remembered more recently as the dignified but defiant face of the city following the terrorist attacks on the World Trade Center.
James Turley, E&Y’s chairman, said several of the firm’s clients had already asked the former mayor for help in restructuring themselves.
Giuliani’s team is set to include the former NCY fire commissioner Thomas von Essen and police commissioner Bernard Kerik.
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children