PEOPLE - Buying Giuliani

In terms of headlines for dollars, few deals by Australia's Macquarie Bank could have been as rewarding as last month's purchase of Giuliani Capital Advisors, a boutique investment bank and restructuring specialist founded by Rudy Giuliani. The former New York City mayor sold the business in the buildup to his U.S. presidential campaign.

But Murray Bleach, 47, head of Macquarie's North American investment banking arm, insists publicity was not a motivating factor for pursuing the deal. "I'm doing it to enhance our business," he says. The purchase price was undisclosed but estimated at $60 million to $100 million.

Advising on distressed-company situations is a new area for Macquarie. "We are not turnaround experts, but that is a competency we would like to be good at," says Bleach.