Former UK envoy Mandelson’s consultancy firm set to enter administration after Epstein links

LONDON - Global Counsel, the consultancy firm co-founded by

former British ambassador to the United States Peter Mandelson

, is preparing to enter administration as early as Feb 20, a source familiar with the matter told Reuters.

Staff were told on Feb 19 that the move followed a wave of client departures after disclosures about Lord Mandelson’s past links to the late US sex offender Jeffrey Epstein, the source said.

The firm did not respond to a request for comment.

Global Counsel cut ties with Lord Mandelson in September 2025, Reuters had reported, the day British Prime Minister Keir Starmer sacked him as Britain’s ambassador to Washington.

Mr Benjamin Wegg-Prosser, who co-founded Global Counsel alongside Lord Mandelson, stepped down as chief executive earlier in February.

Mr Wegg-Prosser had met Epstein in February 2010 while the sex offender was under house arrest, according to documents in the Epstein files seen by Reuters.

Global Counsel said in a statement earlier in February that it had reached an agreement to divest Lord Mandelson’s shares, bringing to an end “any connection” between the firm and the former British envoy.

The shares owned by Lord Mandelson, whose role in the firm ended when he was named ambassador, were acquired by an existing board member, shareholder and the firm’s managing director.

Following more revelations of the extent of Lord Mandelson’s relationship with Epstein, investment giant KKR, banking companies Barclays and Klarna, insurance company Phoenix Group, Tesco and the Premier League have all cut ties with Global Counsel, while Vodafone said its contract was coming to an end in March and pharmaceutical company GSK said it had no plans to work with the firm further.

Being named in the files is not evidence of criminal activity. REUTERS