Mandelson's Lobbying Firm Severs All Links as CEO Announces Departure
The lobbying firm co-founded by former Labour minister Peter Mandelson has taken decisive action to cut all connections with the peer while simultaneously announcing the departure of its chief executive. Global Counsel confirmed on Friday that Lord Mandelson no longer holds any stake in the business and has been completely removed from any influence over its operations.
Complete Divestment and Leadership Change
In a significant restructuring move, Global Counsel revealed it had reached an agreement to fully divest Mandelson's shares in the company, thereby terminating all associations with the former business secretary. The firm's chairman, Archie Norman, stated unequivocally: "With the completion of this process today, Peter Mandelson no longer has any shareholding, role or association with Global Counsel and has no influence over the firm in any capacity."
Simultaneously, co-founder and chief executive Benjamin Wegg-Prosser announced his decision to step down from his leadership position. Wegg-Prosser explained that with the divestment of Mandelson's stake now complete, "I feel that now is the time to draw a line between Global Counsel and his actions." He has been replaced by managing director Rebecca Park, who will now lead the London-based consultancy.
Pressure Over Epstein Associations
The dramatic moves come as Global Counsel faced mounting pressure over its association with Lord Mandelson and his controversial relationship with convicted paedophile financier Jeffrey Epstein. The scrutiny had intensified in recent months, creating significant reputational challenges for the lobbying firm that Mandelson helped establish in 2010 following Labour's general election defeat.
The business implications have been substantial, with banking giant Barclays understood to have cut ties with Global Counsel amid the ongoing controversy. This client loss underscores the commercial consequences of maintaining associations with figures linked to high-profile scandals.
Historical Context and Future Direction
Lord Mandelson co-founded Global Counsel with Benjamin Wegg-Prosser fourteen years ago, creating what became one of London's most influential strategic advisory firms. The company has worked with numerous corporate clients and governments, providing political risk analysis and strategic counsel on regulatory matters across multiple sectors.
The complete severance represents a clean break from the firm's founding leadership and signals a determined effort to rebuild its reputation independent of Mandelson's controversial associations. With new leadership under Rebecca Park and the removal of all connections to the former business secretary, Global Counsel appears positioned to distance itself from the shadow of the Epstein scandal that has plagued its co-founder for years.
The developments highlight the increasing scrutiny facing lobbying firms and their associations in an era of heightened transparency expectations. As corporate clients become more cautious about reputational risks, advisory businesses face growing pressure to maintain impeccable governance standards and distance themselves from controversial figures, regardless of their political stature or historical significance to the organization.
