Mandelson’s lobbying firm collapses after Epstein links exposed

Clients have departed the consultancy en masse, a source says

Global Counsel, the consultancy firm co-founded by Peter Mandelson, is preparing to enter administration as early as Friday, a source familiar with the matter told Reuters.

Lord Mandelson, the former British ambassador to the United States, founded the firm alongside Benjamin Wegg-Prosser, who previously worked as Tony Blair’s director of strategic communications during his tenure as prime minister.

The source said that staff were told on Thursday that the administration move followed a wave of client departures after Lord Mandelson’s past links to the convicted paedophile Jeffrey Epstein came to light. The announcement came on the same day that Andrew Mountbatten-Windsor was arrested on allegations that he leaked British government documents to Epstein while serving as trade envoy.

Lord Mandelson is also alleged to have leaked confidential documents to Epstein, according to files released by the US Department of Justice earlier in February.

Police have searched two homes linked to the peer but confirmed no one had been arrested.

Jeffrey Epstein on a yacht with Peter Mandelson (US Department of Justice)

Global Counsel did not immediately respond to a request for comment.

Lord Mandelson was sacked as ambassador to Washington in September 2025 following revelations about his friendship with Epstein, who died by suicide in 2019. He had maintained ties with Epstein after the financier was jailed for a child sex offence, it emerged.

Early this year, the pair’s relationship again came under scrutiny following the release of documents by the Department of Justice. Among them were files that suggested Epstein had made $75,000 in payments to Lord Mandelson between 2003 and 2004, when he was a Labour MP. Lord Mandelson resigned from the Labour Party shortly afterwards to avoid “further embarrassment” to the party. He also said he needed time to investigate the alleged payments, “of which I have no record or recollection”.

Lord Mandelson has resigned from Labour (PA)

Global Counsel confirmed earlier in February that the former US ambassador no longer holds a stake in the business nor exerts any influence. Mr Wegg-Prosser also stepped down as chief executive earlier this month. He said he made the move as it was “time to draw a line” between the firm and Lord Mandelson’s “actions”.

Global Counsel added in a statement that it had reached an agreement to fully divest Lord Mandelson’s shares, thereby ending all connections with him.