Global Counsel, a consultancy established in 2010 by Peter Mandelson and Benjamin Wegg-Prosser, has officially entered administration following a severe downturn triggered by the withdrawal of several key clients. This situation arose after revelations about Mandelson's prior connection with convicted sex offender Jeffrey Epstein surfaced, leading to a rapid loss of confidence among their clientele. The firm, based in London with offices in several other global cities, is in the process of making its UK staff redundant as it halts trading operations.

The issues began when it became known that Mandelson had consulted with Epstein on matters related to launching Global Counsel, a fact that not only has affected the firm's reputation but also prompted multiple companies to sever ties with it. Despite efforts by the management to dissociate the firm from Mandelson's controversial past, the damage to the company’s credibility was significant and ultimately unsustainable. Administrators from Interpath stated that the withdrawal of clients left them with “no option” but to proceed with administration.

This development raises questions about the future of the consultancy landscape in the UK, particularly for firms with high-profile founders whose past associations can impact current business operations. The quick decline of Global Counsel highlights the increasing scrutiny that clients and stakeholders apply to the reputations of those in influential positions, and could lead to more extensive considerations regarding ethical standards in consultancy practices going forward.