Advisory firm has lost string of clients despite efforts to cut ties with co-founder after Epstein revelations
Global Counsel, the advisory firm co-founded by Peter Mandelson, is to collapse into administration, blaming the “maelstrom” caused by revelations about the former peer’s relationship with the convicted sex offender Jeffrey Epstein.
Companies including Barclays Bank, Tesco and the Premier League have all deserted Global Counsel, despite the company’s efforts to sever ties with Mandelson and the company’s co-founder, Benjamin Wegg-Prosser.
The crisis engulfed Global Counsel after it emerged that Mandelson had sought Epstein’s advice on setting up the business in 2010, shortly after leaving office when Labour lost the general election.
On Thursday, the Financial Times reported that staff at Global Counsel had been told that the “Peter Mandelson legacy” had effectively capsized the business.
