“I’ve never gotten such a grilling in my life,” Weld recalls. It was his introduction to what he calls Giuliani’s “rattrap” of a mind. The two spent seven years working together at Justice. Weld went on to become governor of Massachusetts; Giuliani became “America’s mayor” after the September 11 terrorist attacks on New York City. Now they’re colleagues again: Giuliani has joined Weld’s private equity firm, Leeds Weld Equity Partners, as chairman of its board of advisers.
The firm invests primarily in the education, information and training industry and was a major financial backer of Edison Schools, the embattled for-profit manager of public schools. Last year then-mayor Giuliani fought unsuccessfully to convince New York City parents to let Edison take over the management of five troubled city schools. In his new advisory role, Giuliani succeeds Weld, who joined the firm full-time last year. What are the chances of Giuliani eventually becoming a full-time partner? “The money would have to be really good for him to devote himself to one project,” Weld says. “There are plenty of oysters out there begging for his attention.”
