Mayor Giuliani Discloses Pact with Ernst & Young

Speculation has been rampant about the career path that will be chosen by New York's Mayor Rudolph Giuliani, with hints in the press that he may decide to join the ranks of Big Five firm Ernst & Young come January 1 when his term ends.

New York's Daily News is reporting that Mayor Giuliani plans to start his own consulting firm, taking with him as many as 15 people from his administration. It appears that Mr. Giuliani's firm will have an affiliation with Ernst & Young and will receive financial backing from the Big Five firm, but that management of the new firm will be in the hands of the former mayor.

The new firm will provide management consulting and business and financial services, including investments and strategic planning. Ernst & Young will help set up the business, may provide office space, and will be a minority investor.