Finance
Mandelson's Consultancy Firm Set to Enter Administration After Epstein Links
Published by Global Banking & Finance Review®
Posted on February 19, 2026
1 min readLast updated: April 3, 2026
Add as preferred source on GoogleQuick Summary
Global Counsel, co-founded by Peter Mandelson, is preparing to enter administration after a client exodus tied to disclosures about his links to Jeffrey Epstein. Staff were told the move could come as early as Friday.
Mandelson-Linked Consultancy to Enter Administration Amid Epstein Fallout
Administration Plans and Timeline
LONDON, Feb 19 (Reuters) - 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 Friday, a source familiar with the matter told Reuters.
Client Departures and Epstein Fallout
Staff were told on Thursday that the move followed a wave of client departures after disclosures about Mandelson's past links to the late U.S. sex offender Jeffrey Epstein, the source said.
Company Response
The firm did not immediately respond to a request for comment.
Ties with Peter Mandelson
Global Counsel cut ties with Mandelson in September last year, Reuters had reported, the day Prime Minister Keir Starmer sacked him as Britain's ambassador to Washington.
Leadership Changes
Benjamin Wegg-Prosser, who co-founded Global Counsel alongside Mandelson, stepped down as chief executive earlier in February.
Reporting Credits
(Reporting by Sam Tabahriti, Editing by Paul Sandle)
Key Takeaways
- •Global Counsel is preparing to enter administration as early as Friday, per a source.
- •Client departures followed disclosures about Peter Mandelson’s past links to Jeffrey Epstein.
- •The firm cut ties with Mandelson in September last year after he was sacked as UK ambassador to the US.
- •Co-founder Benjamin Wegg-Prosser stepped down as chief executive earlier in February.
- •Global Counsel did not immediately respond to a request for comment.
References
Frequently Asked Questions about Mandelson's consultancy firm set to enter administration after Epstein links
1What is the main topic?
Global Counsel, a consultancy co-founded by Peter Mandelson, is preparing to enter administration after clients left following disclosures of his past links to Jeffrey Epstein.
2Why is Global Counsel entering administration?
A wave of client exits followed media disclosures about Mandelson’s past connections to Jeffrey Epstein, which severely impacted the firm’s business.
3When could administration happen?
According to a source, the firm could enter administration as early as Friday, Feb. 20, 2026.
