Global Counsel, the political advisory firm co-founded by Peter Mandelson, is cutting ties with the former Labour minister after his dismissal as Britain’s US ambassador following revelations about his links to Jeffrey Epstein.
The firm, which advises some of the world’s largest companies on regulatory and political risk, has begun selling Mandelson’s multimillion-pound stake and expects to complete the process within two months.
Mandelson, a key figure in Tony Blair’s government who resigned twice from ministerial posts before returning as Northern Ireland secretary, co-founded Global Counsel in 2010 with Benjamin Wegg-Prosser. He stepped back from the business after being appointed by prime minister Keir Starmer as ambassador to Washington in December, but Companies House filings show he still holds a 21 per cent stake. He resigned as a director in May last year.
The pressure to cut ties intensified after emails surfaced detailing Mandelson’s close relationship with Epstein, whom he once described as his “best pal”. The correspondence included a suggestion that Epstein’s first conviction should be challenged. A photograph of Mandelson in a white bathrobe with Epstein has further fuelled the controversy.
Global Counsel counts JP Morgan, Barclays, OpenAI, Anglo American, Shein and TikTok among its clients, and its vice-chair is Marks & Spencer chair Archie Norman. The firm declined to comment on the developments.
Mandelson also declined to comment when approached by Bloomberg and the Financial Times.