Global Counsel Faces Administration Amid Controversy

Global Counsel, co-founded by former UK ambassador Peter Mandelson, is set to enter administration following client exits linked to Mandelson's past connections with Jeffrey Epstein. The consultancy severed ties with Mandelson last year. Co-founder Benjamin Wegg-Prosser resigned as CEO in February.

Global Counsel, the consultancy firm co-founded by ex-British ambassador to the U.S., Peter Mandelson, is reportedly set to enter administration by Friday. A reliable source informed Reuters that staff were briefed on Thursday about this move, attributing it to a significant departure of clients.

The exits were linked to revelations about Mandelson's historical connections to the late U.S. sex offender Jeffrey Epstein. Despite several inquiries, the firm has not provided any comments regarding the situation. Global Counsel disassociated from Mandelson in September, coinciding with Prime Minister Keir Starmer removing him as Britain's ambassador to Washington.

In a related development, Benjamin Wegg-Prosser, who co-created Global Counsel with Mandelson, stepped down as chief executive earlier this February, adding to the current turmoil faced by the firm.

(With inputs from agencies.)