Lobbying firm Global Counsel co-founded by Mandelson faces collapse
BBC World
February 19, 2026
AI-Generated Deep Dive Summary
Lobbying firm Global Counsel, co-founded by Peter Mandelson, is on the brink of collapse after major clients severed ties following its alleged connections to Jeffrey Epstein. Sources within the company attribute the crisis solely to Mandelson's legacy and insist it was not caused by current actions or decisions by staff. The firm, once a prominent player in British politics, advised high-profile clients like Shell and Barclays but now faces an uncertain future due to revelations from the Epstein files.
Mandelson, a key figure in New Labour and former European Trade Commissioner, stepped down from Global Counsel's board in 2024 but remained a shareholder until recently. His co-founder, Benjamin Wegg-Prosser, resigned as CEO in February. The company’s downfall was triggered when details of Mandelson's alleged links to Epstein emerged, leading clients to abandon the firm. Epstein, a convicted sex offender who died in 2019, had connections with both Mandelson and Wegg-Prosser, including a documented meeting between Wegg-Prosser and Epstein in 2010.
Mandelson's ties to Epstein resurfaced after his appointment as US Ambassador in December 2024, which he lost in September following public scrutiny. The company has been unable to recover from the resulting damage to its reputation. With over 100 employees and offices globally, Global Counsel’s collapse highlights the long-reaching impact of historical scandals on modern-day institutions.
This situation underscores the fragile relationship between politics, finance, and ethics, particularly in the lobbying industry. Mandelson's involvement with Epstein has raised questions about the integrity of influential figures in British politics and their associations with controversial individuals. The downfall of Global Counsel serves as a cautionary tale about the potential consequences of such connections, even years after they occur.
For readers interested in global politics and business, this story reveals how quickly trust can erode in high-stakes environments. It also sheds light on the challenges faced by lobbying firms when past associations come to light, potentially damaging their reputation and client relationships. The case of Global Counsel is a reminder of the importance of transparency and ethical decision-making in public and corporate sectors
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Originally published on BBC World on 2/19/2026