The influential lobbying firm Global Counsel, co-founded by Lord Mandelson, is reportedly on the brink of collapse. This development follows reports of client defections linked to the emergence of documents detailing past associations between Lord Mandelson and the convicted sex offender Jeffrey Epstein, as well as Benjamin Wegg-Prosser, a co-founder and former chief executive of the firm.
Background and Timeline of Events
Global Counsel, established as a prominent advisory business in Westminster, has worked with major clients including Shell, TikTok, and Barclays. The firm’s future became uncertain after the publication of documents related to Jeffrey Epstein.
February 6: Benjamin Wegg-Prosser stepped down as chief executive of Global Counsel.
Recent Weeks: Several high-profile clients, such as Barclays, Tesco, and the Premier League, reportedly ended their contracts with the firm. Vodafone also placed its contract under review.
Current Situation: Global Counsel has informed its staff that it is facing collapse and has called in administrators.
Unraveling the Causes of Collapse
The primary catalyst for the firm’s impending closure appears to be the fallout from revelations concerning Lord Mandelson's past links with Jeffrey Epstein.
Client Departures: The emergence of documents detailing Lord Mandelson's associations with Epstein is cited as the reason for a number of significant clients ending their relationships with Global Counsel.
Co-founder's Connections: Further scrutiny arose from details suggesting that Benjamin Wegg-Prosser met with Jeffrey Epstein and shared the company’s business plan while Epstein was under house arrest.
Firm's Response: Global Counsel has made efforts to distance itself from its founders, including stating that Lord Mandelson no longer holds any shareholding, role, or association with the company. Despite these measures, the firm has been unable to retain its client base.
Conflicting Perspectives on Responsibility
While the firm faces collapse, differing views exist regarding the direct responsibility and the impact of the recent revelations.
Read More: Global Counsel lobbying firm collapse after founders' Epstein links revealed
Client Withdrawals as a Direct Consequence
"The impact of Lord Mandelson’s historic ties to Epstein, more details of which have been unearthed over recent weeks, is said to be behind a number of high-profile customers choosing to end their relationship with the firm." - Irish News
This viewpoint directly links the client exodus to Lord Mandelson's past associations, suggesting a clear cause-and-effect relationship. The timing of the client withdrawals following the document releases supports this assertion.
The Firm's Efforts to Sever Ties
"Global Counsel was unable to staunch the flow of clients out of the door. The collapse comes despite Global Counsel’s efforts over the past two weeks to distance itself from its founders." - The Guardian
This highlights the firm's active attempts to mitigate the damage by severing connections with Lord Mandelson. The fact that these efforts were ultimately insufficient points to the severity of the reputational damage.
Expert Insights and Reactions
The situation at Global Counsel has drawn attention due to the firm's former influence and the prominent figures involved.
Reputational Damage: The controversy has led to a "significant reputational and financial setback" for the advisory firm.
Leadership Changes: A new leadership team, appointed after the chief executive’s departure, made the decision to call in administrators.
Broader Implications: Lord Mandelson himself has resigned from the House of Lords and is expected to face further consequences.
Conclusion and Future Implications
Global Counsel, once a significant player in the lobbying landscape, appears to be ceasing operations. The firm’s collapse is attributed to a combination of Lord Mandelson’s historical links to Jeffrey Epstein and Benjamin Wegg-Prosser’s direct interactions with the convicted sex offender.
Formal Administration: The firm has called in administrators, indicating a formal process of winding down operations.
Client Base Erosion: The exodus of key clients has left the firm financially untenable.
Staff Impact: The company has informed its more than 100 employees of the situation, with recruiters reportedly engaged to assist staff with their next steps.
The situation underscores the profound impact of past associations on current business operations and reputational standing in the professional services sector.
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Sources Used:
Context: Provides an overview of the firm's situation, co-founder's departure, and the link to Epstein files.
The Independent: https://www.independent.co.uk/bulletin/news/mandelson-epstein-global-counsel-administration-b2923761.html
Context: Reports on the firm being on the brink of closure due to Epstein links.
Irish News: https://www.irishnews.com/news/uk/lobbying-firm-co-founded-by-peter-mandelson-set-to-enter-administration-XF5GXJXIEVJGBBYPGDOVLXNHBI/
Context: Details the firm's communication to staff about facing collapse and the impact of Mandelson's ties.
The Guardian: https://www.theguardian.com/politics/2026/feb/19/global-counsel-calls-in-administrators-peter-mandelson-epstein
Context: Focuses on the firm calling in administrators and the reasons, including client desertions and co-founder's actions.
Sky News: https://news.sky.com/story/peter-mandelson-founded-lobbying-firm-global-counsel-on-brink-of-closure-13509596
Context: Reports on the firm being on the brink of closure and staff being informed.
London Loves Business: https://londonlovesbusiness.com/mandelsons-lobbying-firm-enters-administration/
Context: Confirms the firm entering administration and details client actions.
