Peter Mandelson’s advisory firm, Global Counsel, is cutting ties with the former Labour minister after emails revealed the extent of his relationship with convicted sex offender Jeffrey Epstein. The company, which Mandelson co-founded in 2010, is selling off his multimillion-pound stake, with the process expected to conclude within two months.
The decision follows fresh scrutiny of Mandelson’s ties to Epstein, including emails in which Mandelson described Epstein as his “best pal” and suggested that his first conviction was wrongful. A photograph also emerged showing Mandelson in a white bathrobe with Epstein. In one email, Mandelson wrote: “Your friends stay with you and love you.”
Mandelson stepped back from Global Counsel after being appointed UK ambassador to the US by Prime Minister Sir Keir Starmer in December. He had agreed to sell his stake over time, but recent filings show he still holds a 21% share. He resigned as a director in May last year.
Global Counsel advises clients including JP Morgan, Barclays, OpenAI, and TikTok. Its vice-chair is Archie Norman, chair of Marks & Spencer. The firm declined to comment, as did Mandelson.
This is not the first controversy for Mandelson, who was forced to resign from Tony Blair’s government twice—once over an undeclared loan and later for lobbying on behalf of a donor. His sacking as US ambassador followed the Epstein revelations.
