Published by Global Banking & Finance Review®
Posted on February 19, 2026
1 min readLast updated: April 3, 2026
Add as preferred source on GoogleGlobal 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.
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.
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.
The firm did not immediately respond to a request for comment.
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.
Benjamin Wegg-Prosser, who co-founded Global Counsel alongside Mandelson, stepped down as chief executive earlier in February.
(Reporting by Sam Tabahriti, Editing by Paul Sandle)
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.
A wave of client exits followed media disclosures about Mandelson’s past connections to Jeffrey Epstein, which severely impacted the firm’s business.
According to a source, the firm could enter administration as early as Friday, Feb. 20, 2026.
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