http://politicalticker.blogs.cnn.com/2007/12/04/giuliani-steps-down-from-investment-firm/

December 4, 2007
Giuliani steps down from investment firm

New polls show Romney is strong in three early-voting states.

DES MOINES, Iowa (AP) — Republican presidential hopeful Rudy Giuliani has stepped down as head of his consulting firm, Giuliani Partners, after months of refusing to disclose the firm's clients or the role he played.

Giuliani's spokeswoman, Sunny Mindel, says the former New York City mayor has been replaced as chairman by Peter Powers, a longtime friend and former aide.

The firm was started when Giuliani left City Hall. It earned him around $4 million last year. The spokeswoman did not say whether he would retain his interest in the company.

While insisting the firm's client list was confidential, Giuliani has noted the media have named a number of his clients.

Published reports have identified one client as the Persian Gulf country of Qatar, which was accused of sheltering suspected September 11 mastermind Khalid Sheikh Mohammed, although that country today it is a U.S. ally.

Giuliani aides said he has not been involved in day-to-day operations of the firm since last spring. But the firm's Web site listed him as chairman as recently as last month.