Barclays has reportedly ended its relationship with Global Counsel, the lobbying firm co-founded by former Labour minister Peter Mandelson, following intense scrutiny over Mandelson's ties to the late sex offender Jeffrey Epstein. The decision was driven by frustration over the firm's handling of Mandelson's remaining stake, according to a person familiar with the matter.
Vodafone is also reviewing its contract with Global Counsel for public affairs services, with its current one-year deal set to expire in March and no renewal decision yet made. The moves come after newly released emails from the US Department of Justice investigation revealed the extent of Mandelson's dealings with Epstein, triggering a political scandal.
Mandelson resigned from the Labour Party on Sunday and was sacked as UK ambassador to the US in September after emails suggested a close relationship with Epstein, who died in prison in 2019 while awaiting trial on child sex-trafficking charges. The revelations also included allegations that Mandelson leaked sensitive government policy information to Epstein, sparking a crisis for Prime Minister Keir Starmer.
The emails showed Mandelson regularly updating Epstein on his efforts to establish Global Counsel and other business dealings, including a failed bid to chair mining company Glencore. Global Counsel's chief executive, Benjamin Wegg-Prosser, also met Epstein in 2010 and emailed him at least twice, according to the files.
Rokos Capital Management, a £16bn London hedge fund, terminated talks with Mandelson over an advisory role following the leaks. Starmer apologised to Epstein's victims on Thursday for appointing Mandelson as ambassador, stating he had been lied to about the extent of the relationship.
Global Counsel's client list includes Palantir, a US military technology firm with ties to Donald Trump's administration. The UK government has faced calls to release details of Mandelson's involvement when Starmer visited Palantir's Washington office in February 2025, shortly after Mandelson took up his ambassadorial post.
