PracticeAccounting FirmsGiuliani acquires E&Y investment arm

Giuliani acquires E&Y investment arm

Former mayor of New York, Rudolf Giuliani, has acquired the US investment arm of Big Four firm Ernst & Young, in a move widely seen as his first step to funding a campaign to run for public office in 2008.

Link: Giuliani to team up with E&Y

The acquisition of E&Y Corporate Finance LLC, that according to the Wall Street Journal, had been looking to sell for some time, will create a new investment bank called Giuliani Capital Advisers.

GCA will advise companies on deals such as acquisitions and corporate restructuring.

It is not clear how much Giuliani Partners is paying for the practice but in buying the corporate finance business, Giuliani will gain several existing E&Y clients and more than 100 employees in six cities.

Giuliani set up Giuliani Partners in January 2002 after the 9/11 terrorist attacks against New York City.

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