The lobbying firm Global Counsel, co-founded by Labour peer Peter Mandelson, is set to enter administration following fallout from his ties to disgraced financier Jeffrey Epstein. The London-based advisory business, which employs over 100 people, has informed staff of its impending collapse, with administrators expected to be appointed as soon as Friday.
The firm has faced a wave of client departures after the release of the so-called Epstein files by US authorities. Barclays, Tesco, and Klarna are reported to have ended their contracts, while Vodafone placed its contract under review. Global Counsel had previously severed ties with Lord Mandelson and announced the departure of its chief executive Benjamin Wegg-Prosser, stating that Mandelson no longer held any shareholding, role, or influence over the company.
Despite these measures, the business continued to suffer from the legacy of Mandelson's association with Epstein. The latest documents from the Epstein files suggest that Mandelson passed potentially market-sensitive information to the financier in 2009 while serving as business secretary under Gordon Brown. The Metropolitan Police have searched Mandelson's London and Wiltshire homes as part of an investigation into alleged misconduct in public office.
Global Counsel was founded in 2010 by Mandelson and Wegg-Prosser, a former political adviser to Tony Blair. The firm's client roster included Palantir, GSK, Vodafone, OpenAI, TikTok, and the English Premier League. In 2024, the company grew revenues by a third, reporting a pre-tax profit of around £670,000. Prime Minister Keir Starmer has faced political pressure over the controversy, apologising for believing Mandelson's 'lies' about his relationship with Epstein.
