A lobbying firm co-founded by Peter Mandelson is facing potential closure due to recent revelations involving the peer and convicted sex offender Jeffrey Epstein. London-based advisory company Global Counsel has informed its employees about the likelihood of entering administration. The firm, which is believed to employ over 100 individuals, indicated on LinkedIn that significant staff layoffs may occur under the administration’s control.
The firm’s downfall stems from the surfacing of historical connections between Lord Mandelson and Epstein, leading to the departure of several prominent clients. Despite its reputation as a respected international professional services provider, the ongoing scrutiny surrounding Peter Mandelson has made it challenging to sustain the business.
Following Epstein’s death in 2019, major companies like Barclays, Tesco, and Klarna terminated contracts with Global Counsel, while Vodafone initiated a review process after the release of the so-called Epstein files by US authorities. Although Global Counsel severed ties with Lord Mandelson and its former chief executive, Benjamin Wegg-Prosser, the firm continued to face repercussions from his association.
Lord Mandelson, along with Mr. Wegg-Prosser, established the firm in 2010 after Labour’s defeat in the general election. Despite Lord Mandelson’s departure from the board two years ago, his past involvement continued to impact the company. Mr. Wegg-Prosser’s background includes political advisory roles under former Prime Minister Tony Blair and directorial positions in various organizations.
The firm emphasized on LinkedIn that while it currently has no link to Peter Mandelson, his role as a co-founder has influenced public perception. Recent documents from the Epstein files suggest Lord Mandelson shared potentially sensitive information with the financier during his tenure as business secretary in Gordon Brown’s government.
Law enforcement officials have conducted searches at the former politician’s residences in London and Wiltshire as part of a probe into alleged misconduct. Sir Keir Starmer faced political challenges due to the controversies, expressing regret for trusting Lord Mandelson and acknowledging the severity of the situation.
