Giuliani Partners - Press Releases

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Entergy Nuclear Northeast

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Purdue Pharma

Rudy Giuliani and Ernst & Young Announce Strategic Alliance
New firm to offer consulting services and make and manage investments

January 15, 2002 - New York, NY. Rudolph W. Giuliani and Ernst & Young LLP, a global leader in professional services, jointly announced today that they have established an alliance to offer consulting services and to make and manage investments. The first company formed from this alliance, Giuliani Partners LLC, will focus on helping Chief Executive Officers and Boards of Directors secure the future of their firms by advising them on the protection of their companies' financial and physical assets, knowledge, people and brand.

Giuliani and his team of senior executives, many of whom served with him during his eight-year tenure as Mayor, will draw upon their experiences in emergency preparedness, public safety, leadership during crises, and financial management—- all of which were instrumental in turning around a City described as unmanageable and ungovernable to a City that is now a worldwide example of good government and effective management. This management expertise, coupled with the broad-based knowledge and global resources of Ernst & Young in the areas of assurance, risk management, information security and financial restructuring, will provide clients with a comprehensive set of solutions addressing critical concerns of major corporations today.

While Giuliani Partners will focus its efforts primarily on advising CEOs, the firm will also advise government leaders on issues of emergency preparedness, management effectiveness, and service improvement.

Rudolph W. Giuliani, who will be Chairman and CEO of Giuliani Partners LLC, said: "I selected Ernst & Young as our strategic partner because of the firm's impeccable reputation as a trusted business advisor, its credibility as a leader in professional services and its demonstrated ability to bring value to its clients."

James S. Turley, chairman of Ernst & Young, said: "This timely alliance reflects the firm's strategic focus on helping clients manage business risk and improve financial performance, especially in the current economic climate."

"We are honored to have the opportunity to work with Rudy Giuliani and his team. We have been impressed with the Giuliani team's management innovations that were critical in turning around the city of New York—- a $46 billion dollar entity that had been described as unmanageable and ungovernable prior to Rudy's tenure as Mayor. But in the past eight years, he and his associates have demonstrated that the city can not only be managed, it can be managed effectively and efficiently."

Turley cited several examples of the Giuliani team's accomplishments in New York: securing the best bond rating for the city's debt in over 30 years; managing its budget to create record surpluses for the City, creating the City's Office of Emergency Management; instituting the innovative Syndromic Surveillance System for monitoring and responding to public health trends; and restoring the city's health and hospital system, the third largest in the country, to efficiency and full accreditation.

"As a result," Turley concluded, "we believe that Giuliani Partners LLC has impressive credentials and a track record of achievement to offer the global corporate community."

The Giuliani team and Ernst & Young will also establish Giuliani Capital Partners to invest in companies in growth industries, particularly those in which the Giuliani team members can add value by virtue of their experience and background. At the outset, Giuliani Capital Partners will focus on companies in the area of security and protection. Ernst & Young will provide financial advisory, due diligence, and tax consulting services in connection with these investment activities.

E&Y advised Giuliani and his team on the overall strategy of investing and consulting underlying the creation of Giuliani Capital Partners and Giuliani Partners LLC.

The principal offices of Giuliani Partners will be located in the same building as the New York headquarters of Ernst & Young, currently located at 787 Seventh Avenue, and, in the spring, at a new building now under construction at 5 Times Square.

Giuliani said in closing: "By enhancing the security of businesses and governmental organizations and by investing in companies that further those goals, we are confident that we can make a positive difference in the security of the citizens of our country. We are very excited about this venture and fully committed to its success," Giuliani concluded.

About Giuliani Partners
Giuliani Partners is comprised of leading experts recognized worldwide for their management and problem solving abilities. The members of our firm possess an extensive background in the development of effective crisis communication strategies and preparing for and managing any event. With the availability of these critical resources, Giuliani Partners can provide our services directly to Chief Executive Officers and Board of Directors.

About Ernst & Young
Ernst & Young, a global leader in professional services, understands the business issues that are important to senior executives. With extensive business knowledge and hands-on industry experience, the global Ernst & Young organization can implement a broad array of solutions to help companies capture growth, improve financial performance and manage risk—- anywhere in the world. Its 84,000 people serve as trusted business advisers in more than 130 countries, offering audit, tax, corporate finance and transaction services across all industries to many of today's leading global corporations as well as emerging growth companies.