Peter Mandelson firm Global Counsel to enter administration after Epstein links exposed
Global Counsel, the consultancy firm co-founded by Peter Mandelson, is preparing to enter administration on Friday, a source familiar with the matter told Reuters.
Lord Mandelson, the former British ambassador to the United States, founded the firm with Benjamin Wegg-Prosser, who previously worked as Tony Blair’s director of strategic communications during his time as prime minister.
The source said staff were told on Thursday that management’s move followed a wave of customer departures following the revelations of Lord Mandelson’s past ties to convicted pedophile Jeffrey Epstein. The announcement came on the same day that Andrew Mountbatten-Windsor was arrested amid 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 in early February.
Police searched two homes linked to the peer but confirmed no one had been arrested.
Global Counsel did not immediately respond to a request for comment.
Lord Mandelson was sacked as ambassador to Washington in September 2025 after his friendship with Epstein, who died by suicide in 2019, was revealed. It was revealed that the financier maintained ties with Epstein after he was jailed for child sex crimes.
Earlier this year, the pair’s relationship came under renewed scrutiny following the release of documents by the Department of Justice. These included files alleging that Epstein paid Lord Mandelson $75,000 between 2003 and 2004, when he was a Labor MP. Lord Mandelson resigned from the Labor 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.”
Global Counsel confirmed in early February that the former US ambassador no longer has a stake in the business and does not wield any influence. Mr Wegg-Prosser also resigned as chief executive earlier this month. He said he took the step because it was “time to draw a line” between the firm and Lord Mandelson’s “actions”.
In its statement, Global Counsel added that an agreement had been reached to fully dispose of Lord Mandelson’s shares, thus ending all links with him.
