Lobbying Firm Co-Founded by Mandelson Ceases Trading Over Epstein

Global Counsel collapsed after many clients cut ties following revelations about Mandelson's friendship with disgraced financier Jeffrey Epstein.

Published on Mar. 1, 2026

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The lobbying firm co-founded by Peter Mandelson, a former U.K. ambassador to the United States, collapsed into a form of bankruptcy on Friday in the wake of the scandal surrounding his links to the late convicted sex offender Jeffrey Epstein. Global Counsel said it had stopped trading and roughly 80 U.K.-based staff were being laid off after many customers cut ties with the company following revelations about the scale of Mandelson's friendship with Epstein.

Why it matters

The collapse of Global Counsel highlights the fallout from Mandelson's association with Epstein, which has damaged his reputation and led to investigations into potential misconduct. The scandal has also raised questions about the vetting process for senior government appointments in the U.K.

The details

Mandelson, who jointly set up Global Counsel in 2010 after the Labour Party was ejected from power, resigned from its board in 2024 and sold his shares in an apparent attempt to insulate the company from the scandal. However, the rapid loss of clients over recent weeks has had a 'monumental impact' on the business, leading to its collapse. Emails indicated that Mandelson passed on sensitive government information to Epstein in 2009, and there were also records of payments totaling $75,000 from Epstein to accounts linked to Mandelson or his husband.

  • Global Counsel collapsed into a form of bankruptcy on Friday, February 20, 2026.
  • Mandelson resigned from Global Counsel's board in 2024 and sold his shares earlier this month.
  • Epstein died in a New York prison in 2019.

The players

Peter Mandelson

A former U.K. ambassador to the United States who co-founded the lobbying firm Global Counsel in 2010.

Jeffrey Epstein

A late convicted sex offender whose links to Mandelson led to the collapse of Global Counsel.

Keir Starmer

The British Prime Minister who appointed Mandelson to a diplomatic job, a decision that nearly cost Starmer his own job.

Reinaldo Avila da Silva

Mandelson's husband.

Andrew Mountbatten-Windsor

Arrested on suspicion of misconduct in public office related to his years as a trade envoy for the U.K.

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What they’re saying

“While Global Counsel had grown over the past 15 years to become one of the U.K.´s leading public affairs consultancies, the rapid and sudden loss of clients over recent weeks has had a monumental impact on the business.”

— Will Wright, U.K. chief executive of Interpath and joint administrator

What’s next

The government plans to release files related to the vetting process that it hopes will exonerate Starmer and show Mandelson lied.

The takeaway

The collapse of Global Counsel highlights the severe reputational damage and professional consequences that can result from high-profile figures' associations with disgraced individuals like Jeffrey Epstein, even years later. It also raises questions about the thoroughness of vetting processes for senior government appointments in the U.K.